Friday, November 12, 2010

Why aren't there more gold shorts out there?

I'm the only one that I've talked to that is short. Everyone else that I've talked to is either long, or neutral and trying to talk me out of the short.

Although my short is a hesistant one: I'm longer PALL than I am short GLD.

Don't want to be short metal right now. If I'm going to be long a metal, than I guess it should have some industrial use and intrinsic value (which gold does not).

Megan says
In the event that the US economy melts down so far that buying gold was a good alternative to holding US dollars, then buying canned goods, ammunition, and medical supplies was an even better alternative to gold. The only scenario I can think of in which it makes sense to stockpile a lot of gold is one where you and your household goods are unexpectedly teleported into the sixteenth century. If you worry a lot about this, then by all means, stockpile gold. But you should also probably take the precaution of stockpiling antibiotics and how-to books on dentistry.

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