Mover Mike: Bullish On Gold Since 2001
It’s been over 1000 days since Tim Middleton at MSN.money announced in a column on Feb 16, 2006:
The party ended (for Gold) a week ago yesterday. Having reached a 25-year high price of more than $570 an ounce…
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If you own gold, this looks to me like a swell time to sell it. If you don’t own it, I sure would not be a buyer.
I bring this up because another bear on Gold, Jeff Christian, has turned bullish on Gold. Remember, it was Christian who is on record saying that
“yes Gold could pop, but over the long term, gold is over valued and should average $500.”
You can hear his latest prognostications on the Financial Sense News Hour with Jim Puplava.
Christian now thinks it reasonable to have gold in your portfolio greater than 5% of your assets. While there is no ready alternative to the USD currently, Gold makes sense for protection.
And Tim Middleton, sometime since 2006, switched to being positive about Gold. Here on 2/12/2008, he damns Gold with faint praise calling Gold a weed.
Gold is the financial weed of the 21st century. You can’t stamp it out. It has always been impermeable and incorruptible; now it’s also inevitable.
You have to buy it. And not just because Thursday is Valentine’s Day.
Then on 3/3/2009 Middleton writes
Yet as we face the threat of substantial global inflation as a result of recession fighting, gold’s upside is enormous.
Here’s one guy who got it right: Michael Brush. In a column on 11/21/2007 he wrote “Why gold’s going straight to $1,000″
Gold beat a hasty retreat after setting records by trading north of $840 an ounce earlier this month, but don’t be fooled.
It’s only taking a breather before it climbs past $1,000.
I’ve been bullish on Gold since 2001 and believe we will see the DJIA trade 1:1 with Gold!
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