Yesterday,Gold prices touched 1000$/ounce and are quite close to all time highs.With stock markets plunging, and Obamanomics looks nothing more than rhetorics,Gold will prove to be a safe haven bet.The recession seems far from over.So,fundamentally,the stage looks all set for a bullish rally for Gold in year to come.Technically too,it seems all set to cross 2000$(rs 30000 per 10 gms on conservative terms) mark by mid 2010.
Japan has been struggling for over 10 yrs and now in middle of world wide recession,the export oriented country finds itself crippling to even survive.Goverment fails,administration fails there as a matter of evryday incident.Also,Yen has appreciated so much in foreign currency that Big japanese firms have to post losses and layoff workers which isnt really the japanese culture.
Japanese Goverment has waited so long to let yen appreciate by not intefering in the forex market,but now it must intervene or see Japan fail.time to be short on yen!!
Being a fan of Dennis Gartman,i always think of hedging,Going long on Gold along with long on Re against Dollar serves as a perfect hedging strategy .
Enough of opinions..As its said,Back ur opinions with ur money,not by words.But money is one thing i have never been able to match in supply demand factors...demand always exceeds supply :)
So all friends who are tired to their menial jobs and have saved enough for recessionary times, its time to invest...It could well be a very successful Ponzi scheme/fund(unlike Gernard Madoff's).:)
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