This one is directed to all you “Gold bears” out there, you might want to read this outlook before taking on your next short position. FYI, just because the outlook for Gold is promising doesn’t mean you can’t take advantage of the counter trend sell-offs. *wink, wink*
By Nick Barisheff
Keynote Speech Presented by Nick Barisheff at the Empire Club’s 16th Annual Investment Outlook Luncheon
Thursday January 7, 2010
Good afternoon. As always, it is a privilege to speak at the Empire Club.
Each year for the past three years, I have returned to share perceptions about the precious metals industry and specifically about gold. Generally, this forces me to step back and assess the previous year’s events and then to speculate about what they may indicate for the coming year. Choosing the seminal events this year has been more difficult than usual. Lately the pace of gold-related news has accelerated exponentially with gold’s rising price. While 2009 was an exciting year for gold, setting a new average high of $1,088, 2010 promises to be even more exciting.
In 2009 gold resumed its historical monetary role – as the anti-currency. Therefore, the influences and events that affect its price are not simple commodity supply/demand fundamentals, but the more complex global monetary issues.
To summarize some of the important key events, I thought it would help to separate them into three categories. Click here to continue…