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Outlook 2008: Gold Investments Will Continue to Glitter in the New Year
There’s no fancy way to say it: Gold investors made a killing in 2007. Year-to-date, gold’s spot price is up 25%.
For some better perspective, consider the year-to-date gains of the three major U.S. stock indices: The blue-chip Dow Jones Industrial Average (6.17%), the tech-laden NASDAQ Composite Index (7.48%), and the broad-based Standard & Poor’s 500 Index (2.59%). Gold eclipsed them all.
Gold hasn’t punched out the broad equity-indices like this since the late 1970s – a period still remembered reverently by gold bugs and institutional investors alike, when the “yellow metal” surged to record highs during an inflation-fueled economic malaise.
“The best one can say is that in the past several years gold’s been going from the bottom left of the screen to the top right,” said Dennis Gartman, editor of the daily investment newsletter, the Gartman Letter. Read Full Story
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mort golub | Aug 8, 2008 | Reply
After seeing silver up to over $19/oz. a month or so ago, how can one account for the steady drop into the $15-15 per oz. range as of Aug. 8?
I’m anxious to receive some educated insight into the outlook for silver by the end of 2008, and beyond.