Monday, April 22, 2013

Gold Hits 30 Year Low - no just kidding

Although you wouldn't know if you only watched Reuters TV. They think gold has hit a 30 year low (it actually had the biggest fall in 30yrs, wiping off 2 yrs worth of rises), so Reuters are really asking you to believe that the spot price of gold is $500, as it was in April 1983.

To add insult to injury they go on to say the gold is no longer a safe haven (explain that to the ABC Bullion clients that queued for 2 hours to buy gold last week), but London property is even though it is at all time highs. But it gets better, you should buy Natural Gas (after it has recovered significantly from its lows), but then go onto explain that the supply is growing rapidly. But if that is not safe enough for you try Dairy, yes you will make a fortune selling milk and cheese to lactose intolerant Chinese and Japanese! although you might want to hedge that bet with shares in a toilet paper manufacturer. The best is kept for last, US T-bills at multi-generational highs they are surely the safest haven of them all.


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