Personally, I got into PMs heavily in the early 2000s when it was being given away. I could see investing in more after it hits bottom, or thereabouts.
So long as the dollar continue to strengthen and oil prices continue to fall gold can't rally. However, Warren Buffet is probably buying gold right now. You want to be buying when others are selling and selling when the world wants to buy. That's his stated philosophy.
I didn't think Buffett was a fan of gold. Dalio is though. [video=youtube;PXVG2CKUcb0]https://www.youtube.com/watch?v=PXVG2CKUcb0[/video]
IIRC, Buffett has routinely poo-pooed gold ownership. I remember one time he stated: [it] gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.
I don't think Gold will ever go down to the point it was in 1998-2002, If anything it is at a new bench mark price, although somewhat volatile the price seems to have leveled off somewhat, which is more in line with what should be expected. this time of year everyone gets real crazy about what happens in the market, never forget that 4th quarter is always a huge sell off point. the market never really rallied at the beginning of the quarter and inventory levels were much lower then the past. Overall the Dow is at 18000, 2015 could be very interesting, I wish I felt more optimistic but I guess I still have that bad taste in my mouth from the last downturn. Staying conservative as a trader.
There are a million ways to get rich that make no sense. Buy stocks in the IPO of an internet company with little revenues, no profits, and no real plan on how they will make profits.. and you can still double your money in 2 days. I invest like Graham and Buffet, but I also realize that it is also possible to invest without the core fundamentals making sense.
