Why does it seem that gold price advancements do not want to give?
*Dow Theory Letters, by Richard Russell, January 29, 2008:
"Meanwhile, as I noted yesterday, the character of the bull market
in gold seems to be changing. The change is that I don't sense any
'give' in the metal. It's like some strange, invisible power is forcing
the metal higher. Will gold correct? Will gold retest the 900 level?
Can this steady almost eerie rise continue? And how is it that the
public remains singularly disinterested? At what point will the US
public drop their disinterest and 'go for the gold?'
Below we see a monthly chart of the bull market in gold.* How
could gold, how could any item, rise from 250 to over 930 without
attracting intense interest from the public? Damned if I know, but I
can tell you this -- somewhere ahead, rising gold will attract the
interest of the public. I've never seen a rising market that didn't, at
some point, bring in the public. But the higher gold rises without
public participation, the higher gold will ultimately go.
I guess decades of anti-gold nonsense and ignorant propaganda has left
Americans "brain-washed" when it comes to real money. It really does
seem like the ultimate irony -- Americans have faith in fiat junk paper
-- but they distrust real tangible money -- gold. Americans will 'get
it' somewhere ahead. I'm in no hurry, and you shouldn't be either.
Meanwhile, let gold 'creep' higher. I continue to call it the 'great
stealth bull market.'"
[*Note: Monex.com suggests that you subscribe to dowtheoryletters.com
for Richard Russell's chart information ASAP, before his rates increase
in April.]
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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