Drudge Headlines 'Gold Panic'...Chris | InformationLiberation
Drudge is headlining the recent drop in the price of gold to below $1400, the price right now is hovering a little above $1,400. The HUI index just opened down over 7%, it's at a four year low of 280.
I've thought for a while now the imaginary number in my head for gold to become attractive again was $1,500, we cleared it a few days ago and there seems to be a mini-panic ensuing, especially in gold stocks. While I own a decent amount of gold I don't own any gold stocks, though I've wanted to get some for quite some time, I just moved some cash around and I'm going to be strongly considering buying some pursuant to this price drop.
One of my favorite quotes when it comes to investing is Baron Rothchild's, "Buy when blood is running in the streets."
My other favorite is Warren Buffet's, "Buy when everyone else is selling, and sell when everyone else is buying."
I might put it into practice here, I personally still believe in the gold story and will not be selling.
Here's an embedded live chart via Kitco:
Chris runs the website InformationLiberation.com, you can read more of his writings here. Follow infolib on twitter here.
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