If you own 100 shares of GOOGLE...
...Turning to gold, every gold-phile in the world is waiting with bated breath for 500 gold. Meanwhile, gold continues to tease. And it may take a while before gold rises to the half-century mark. The reason is seen below. RSI is over 70, the histograms could be topping, and gold is very far above it 200-day moving average, which stands today at 440.77.
I continue suggesting that subscribers think of the gold you own, not in terms of dollars worth of gold, but in terms of ounces. You can not do this with any other "investment." For example, it you own a hundred shares of GOOGLE you can't think of those shares as "100 shares of lasting wealth."
Times change and the 100 shares of GOOGLE that you own today might lose 80% of its value by the year 2020. How? Who knows? For example, in early 1997 Kodak was selling at 97 and looked invincible. Today EK is selling at 24, and some wonder whether the company can survive.
But as wealth, gold has no competition. Gold was wealth 5,000 years ago, gold is wealth today, and gold will be wealth tomorrow, next month, and next decade. Why? Doug Casey explains why in the piece at the end of this site. (Editor's note: You can read Doug's piece here).
Note -- the NY futures market for gold was closed today. In the world market, the bid for spot gold was 495.50, asked price was 496.30.
more follows for subscribers...
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