Tags: skarica | spike | gold | bulls

Recent Spike is Justification for Gold Bulls

By    |   Thursday, 11 August 2011 02:56 PM

Us gold bulls don’t want to say, ”We told you so."

But … "We told you so.”

I have been a gold bull for the past 15 years ever since I started in the markets.

Even when we had the false bubble-induced boom of the late 1990s, I stuck to my guns, stating that this bubble would pop: that surpluses were mere fiction based on an unsustainable stock market and technology boom.

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Things were so bad for gold that in April 2001, the Financial Times printed a “death of gold” article.

That late '90s bubble burst and slowly in the 2000s, gold began to move up. Still there were naysayers — most in the mainstream investment media — who laughed at gold as an investment asset.

Surely, blow-ups that happened in South America in the 1980s or Asia in the 1990s could never happen in the United States.

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Then we had the financial crisis of 2008, and now the sovereign debt crisis which has lead to an S&P downgrade of the United States. Gold has soared to nearly $1,800 an ounce on this news.

The U.S. financial situation will only get worse as the unfunded liabilities begin to hit in the coming years. Therefore, after a short-term pullback, I expect gold to be on its way to $2,000 and higher by 2012. I believe that we are now entering the stage where the gold market is finally being accepted as being in a major bull market.

The next phase will be when more investors join in.

About the Author: David Skarica
David Skarica is a member of the Moneynews Financial Brain Trust. Click Here to read more of his articles. He also writes the Gold Stock Adviser. Discover more by Clicking Here Now.

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Us gold bulls don t want to say, We told you so. But … We told you so. I have been a gold bull for the past 15 years ever since I started in the markets. Even when we had the false bubble-induced boom of the late 1990s, I stuck to my guns, stating that this...
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Thursday, 11 August 2011 02:56 PM
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