Wow, gold over $820/oz on the day after Thanksgiving : 11/23/07.

Chart courtesy of Kitco.com

Now Ron Struthers has an excellent article about how to find the next gold winers: Finding the Next Winners

I have been telling people gold still have another 5 to 10 years of bull market and many people think I am crazy and often said it’s too late to buy now but I am glad someone with credential actually wrote this :

You know, this bull market in gold has been going on for almost five years now. Many market pundits who have been getting it wrong all the way along keep saying, “These prices won’t be sustained.” And then we move up again, to a higher trading range. And they say, “That can’t be sustained either.” But we just keep going.

I agree with what he said about what the general public think :

I think another key thing many fail to realize is that all major commodity/gold bull markets are driven by investment demand, and those who keep focusing on supply-and-demand fundamentals only are missing the boat.

So load up your trucks now :

So, I think it’s key now how gold reacts in this pullback and how it consolidates and moves from here, because I’m expecting the next move up to bring a lot more buying into the gold stocks and the juniors as well.

Picture source : here.

This entry was posted on Saturday, November 24th, 2007 at 5:30 am and is filed under ZMisc. You can follow any responses to this entry through the RSS 2.0 feed.