Still Bullish On Gold (And Silver)

From Chart of the Day comes a picture of the gold market since the bottom in 2001:

I remember my first purchase of Gold coins in 2004. I took $1,200 and bought three coins. Nothing has changed my bullish outlook. I still think as our government spends more money than it takes in; as long as it talks about our Sputnik moment is to spend more money; as long as we run $1.5 trillion deficits, I will expect Gold to move higher. What will be the eventual top? I have no idea, but if the choice is to sell Gold and accept paper with no intrinsic value in exchange, I will continue to hold Gold. Eric Sprott, Chief Executive Officer & Portfolio Manager of Sprott Asset Management, thinks gold may trade at $2,150 by spring and Silver at $50. He’s got a darn good track record. His estimate is as good as any.

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