Monday, July 18, 2011

Gold Breaks $1,600

Gold closed at $1,602.40 per ounce today.

I recommended buying gold to the readers of my Investing in Land email newsletter in 2005 at $420.  Here is a ten-year gold chart and where I priced in for my subscribers.

Other real estate authors in 2005 were enthusiastically recommending that flipping properties or lease/options were the tickets to wealth.  Sorry how that turned out.  Or in the end who was right then and who is still right now.

It would not surprise me if gold hits $2,000 per ounce in the years ahead.  The bullish case for gold is overwhelming because the fundamentals are so strong.