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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Andrew G. who wrote (296)10/28/2000 3:42:17 PM
From: nihil  Read Replies (1) of 74559
 
I cannot imagine that gold has any future at all. The central banks which have huge stocks are trying to restrict the decline but all want to get rid of their stocks. They are "distributing gold," not dumping it. So I foresee a long slow decline in the price of gold. There will be some increase in industrial demand as gold spirals down, but it has no real use as a store of value. There will be ups and downs, but anyone can hold wealth in a form that has a positive return, instead of costing money to store and protect. If one wants to hold metal, the best bets I can see are platinum and palladium. They have a brilliant industrial future. And, given their long-term upward bias, are more likely to become ornaments and stores of wealth.
Gold is very pretty, but the stocks are far too large to permit an increasing trend in price as it is abandoned for monetary reserves. Platinum and palladium stocks are pitifully small.
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