The Long & The Short of Gold Investing

In his January Gold Letter, Peter Schiff explains why the stock market did so well in 2013 and gold did so poorly. He reminds us that while short-term buyers might have lost interest in the precious metals, long-term investors are playing a different game. An article from Casey Research shows that those long-minded gold bulls are in good company. Meanwhile, Lampoon the System wishes the Fed a happy birthday, but there’s not enough cake to go around.

“There are two types of gold investors: those trying to make money on short-term market timing and those looking for long-term asset preservation. It was the fear-driven trading of the former that helped gold break $1900 in 2011, and for good reason – stormy markets steer investors to safe havens.

But gold’s fortune has shifted in the past two years, and finishing 2013 down 28% seems to have sealed its fate – at least in the eyes of the short-term speculators. In reality, the same forces that are stabilizing stocks and suppressing gold are also the fundamental reasons long-term investors have been buying gold since the turn of the new millennium. The so-called recovery we’re now experiencing is just a lull in a storm that hasn’t yet abated.”

Continue Reading Peter Schiff’s Gold Letter

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