By Rick Ackerman, July 28, 2009
Very few Americans own gold in any form. Even though gold’s price has risen each year since 2001, about the only time we hear gold mentioned is in the ubiquitous “cash for gold” TV commercials. Don’t you wonder who has any gold or jewelry left to sell? The way it’s shunned, you might think gold causes swine flu or greenhouse emissions. It is most baffling to me to see our profligate nation diligently avoiding the most rewarding investment of the last decade.
Above all, there are the two overriding reasons to own gold — one fundamental, the other technical. Concerning the former, the monetary landscape and the certainty of more and more fiat money will keep the gold fires burning brightly. As for technical reasons, on the charts, gold has been consolidating for years to launch into a parabolic rally.