“You should acquire physical gold now and put your mind at ease.”
-Jim Rickards
Technically speaking (and oh boy do those “technicals” drive emotion), yesterday was the biggest buying opportunity in Gold in the last 3 years. But why the panic in something that has generated such tremendous returns during the #GrowthSlowing panic of 2016?
And why is it that everyone in perma bull SPY space understands the concept of buying dips in Amazon (AMZN) but can’t quite wrap their head around the investing exercise when it comes to buying either Long-term Bonds or Gold?
As Jim Rickards advises in The New Case for Gold: “Don’t try to time the panic; by the time it’s visible it will already be too late, and the small investor will not be able to get physical Gold. The prudent course is to buy Gold now, have it in a safe place, and when the Gold buying panic comes, you’ll be fine.” (pg 151)
Back to the Global Macro Grind…
Panic? Uh, yeah. Not that memories for the Old Wall and its manic media extend beyond the most recent macro tourist headline, but I assume that the prudent Global Macro investors recalls how Gold did when most US stock market bulls panicked in JAN-FEB 2016.
That’s when Gold broke out...
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