One has to wonder if all of the hype from gold buyers and sellers was just another Ponzi scheme, or another housing bubble in the making.
One has to recall all of the radio, television and newspaper advertisements telling one where one could sell unwanted and unneeded gold at “guaranteed highest prices.”
There were the “Gold Guys” (one had an Australian accent) who were at the Mall of America and expanded into Maple Grove. Then came a push from smaller regional buyers of gold.
However, these guys were over-matched by the prime-time advertisers wanting to sell gold to anyone uncertain about the future in uncertain times.
Gold prices hit an all-time high of $1,928, according to CNNMoney.com. As of 3:42 p.m. Tuesday, April 24 gold was at $1,642.10 a troy ounce (electronic trading) for June 2012 contracts. So, it seems as though gold buyers who got in at $1,928 are sitting on some expensive assets.
Will gold keep dropping? One would have to speculate on what happens in hot spots around the world that usually tip commodities of all kinds into out of this world pricing. For example, gold has, until recently, been following oil prices.
If the Middle East erupts in war between Israel and its many enemies, it might be good to have some gold stowed away — at any price.
—Keith Hansen
Comments (10)
Add commentThis is not right
Since when is it appropriate for the Brainerd newspaper's "Vice President of Audience Development" to be advising the citizens of Brainerd that "If the Middle East erupts in war between Israel and its many enemies, it might be good to have some gold stowed away — at any price"?
If he already owns gold, he's trying to enrich his own portfolio and if he doesn't own gold why is he telling us to buy it?
'taint right either way.
Too much FOX News
They sell gold plated stuff to the gullible all day long. Makes you think they know whom to scam.They know their audience, unlike Keith.
Obama lies on the media every day and
That 'taint right either!
Too much MSNBC News
They sell gold plated stuff to the gullible all day long.
OFB has it right
on his signature statement.
well gold is always worth something
Gold is always worth something. Ask Zimbabwe how much there dollar is worth after Soros made war on the Zimbabwe monetary system so he could get richer.
Our dollar is crashing and some day it may take $500 billion US dollars to buy a beer like it does in Zimbabwe and their dollar, that sounds fun doesnt it? I will use my gold to stay ahead of the game.
I know all you lefties will give me negatives so go ahead, but facts are facts, gold is always worth something and overprinted baseless money systems are made to crash.
Fair and balanced
Although I agree with your comment. What in the world does it have to do with this article. People seem to use any opportunity to bash Obama even when he is not the subject. Also there is nothing fair and balanced about your post to this article. You sir seem to have a problem staying on task. May i recommend some add drugs or perhaps some gold?
deyonne
just settle down and move along.
good one, rubbyk
I appreciate your humor.
I appreciate ...
... Keith Hansen's views and writings. Just because you don't always agree is no reason to bash him. I'm glad that the BDD went outside the area to hire him, we need some fresh viewpoints.