Wednesday, August 10, 2011

Gold Breaks $1,800

Gold broke $1,800 per ounce today, up more than $200 per ounce since my last recommendation to you just a few days ago.

I have been recommending my readers buy gold since 2005.  Back then it was about $400 an ounce.  Here is an old blog post written by me on November 29, 2005 advising my readers to buy gold even at $500 per ounce.

Others had other ideas on how to make money in real estate in 2005.  So how are all those pre-construction condo flips and those lease options working out for you?  Are you thanking the gurus that told you home prices never go down and that leverage can make you rich?

Last Friday in my personal finance blog, Thrift and Accumulation, I told investors to jump into the stock market rather than run.  Those that followed my advice were rewarded with the sharpest snapback rally in decades.  Today, the volatility is so sweet that most traders are in heaven.

If the trend is your friend, recent trends have made you Big Man on Campus.  It is virtually impossible not to identify a long or short candidate and follow the rainbow to a big pot of gold.  No pun intended, but here is the one-month chart on gold prices.  So how are those rental properties you purchased in 2008 and 2009 working out for you?