By MoneyMorning.com.au
We’ve written many times about the gold price.
Long term, our view is the price of gold will go much higher.
Whether it goes as high as $35,000 or $50,000 an ounce claimed by the experts at the Gold Symposium is another story.
And as we’ve warned, if it does reach that height, it’s unlikely gold owners will be clinking glasses of Krug champagne on their luxury yacht in Monaco.
Simply because we don’t look at gold as a get rich asset. It’s more of a stay rich, stay reasonably well off… or at the extreme, it’s a poverty-prevention asset.
The main reason to hold gold is to protect your savings against covert government and central banking theft (inflation). Something they’ve successfully done for the past 40 years.
Convincing everyone that prices are going up rather than what’s really happening – central banks devaluing your money.
That’s why we don’t suggest you put all your assets in gold. Because if you’re like most people, rather than maintain your standard of living, you’d prefer to improve it.
One way of doing that is with a different precious metal. One that we believe is undervalued and worth a small exposure in your portfolio (say 5-10%).
And a good way to find out more about this precious metal is by reading what Diggers and Drillers Editor, Dr Alex Cowie has to say …about silver.
Cheers.
Kris.
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From the Archives…
Stock Market Predictions
2011-11-25 – Kris Sayce
Stocks on the Australian Market Today – Three Things You Need to Know
2011-11-24 – Shae Smith
The Gospel of Gold and Silver
2011-11-23 – Kris Sayce
China’s Bubble Will Pop in 2012
2011-11-22 – Greg Canavan
ASX Stock Market Winners, Losers and the Newly Dumped
2011-11-21 – Aaron Tyrrell
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