Gold Has Become The Best Investment

[DrStool]

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[DogBoy]

"dogboy,

 

what was the symbol for that option play???"

 

JUN 2004 COMEX GOLD is GCM04.

 

It can take 203 weeks to acquire even a few contracts this far out because they aren't very liquid.

 

I think that anyone writing Gold Calls this far out (in time) has to be a lunatic given the world situation today. They must not like being rich.

 

Or maybe they don't read the news ?

 

The odds of a major event (terrorist attack, WWIII, etc.) are quite high in this time period.

 

Anyway I'll be glad to take this Gold off their hands as they apparently don't need it.

[Bearwithme]

Our guest said:

"Gold will be useless".

 

Well.. gold is pretty much the only currency that we can trace back to before the time of Christ.

Can anyone show me a time when it was as worthless as a UAL I.O.U.?

 

Maxxpain made an interesting statement:

"I don't think of gold as an investment, but as insurance. In my brokerage account I bought some gold stocks just so all the cash wouldn't be in their putrid money market account. "

 

I agree, physical gold is perhaps one of the best catastrophe insurances.. but if we study the history of gold it has had 2 massive moves to the upside in the last 25 years... a steady move up recently, but nothing massive.

 

In response to Maxxpain, I would say I wouldn't be very surprised to see gold at 300 a year from now, but also not very surprised to see it at 500 either.

It likes to do a run every now and then.

 

I also see little downside from here.. sure, a few TA guys like Neely think it could go to 200 or 250, but If we south of 300, I will take all of you for a free lunch at one of the Burger Kings that hasn't closed as an apology for my poor judgement.