Gold floor at 1000 per ounce?

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tau

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Gold floor at 1000 per ounce?

posted on Nov 21, 2009 11:01AM

I found the following article(www.kitco.com/ind/Holmes/holmes_nov102009.html ) interesting.

Based on that the annual gold mined is decreasing, the money supplies are increasing, India buying lots of gold, the author argues that we may have set a floor of at least 1000 $ per ounce.

I personally may tend to agree, but I am also a bit nervous since the majority of my RRSP is in gold stocks.

If the gold price is able to show stability or even increasing further, the public in the west may also start to be believers. So far, 90+% of people you ask say without blinking that gold is a bad investment.