It is very thoughtful of the gold market to push the precious metal to $1,600 an ounce the week that I am talking about gold in the monthly Numismatic News online seminars on Thursday.
Gold has had an incredible run since 2001. Everybody knew the world changed on Sept. 11, 2001 when the World Trade Center was attacked by terrorists.
One of the major changes was that this tragedy almost precisely marks the bottom of gold’s 21-year downtrend from the 1980 high of $850 a troy ounce.
A bottoming process does not happen in just one day. Nor do successful gold investors have to buy only at the very lowest price. But the fact is gold rose from the $250s from that point on and is now more than six times that price.
While it might boost the ego to be able to brag that a purchase was made at the bottom, anybody who jumped on the bandwagon basically had years to recognize the renewed uptrend and participate.
Is it too late to get in now? Certainly not if you read the writings of gold’s advocates, including Pat Heller, who writes a weekly column for our Tuesday e-newsletter.
Join me Thursday at 3 p.m. Central Time. Go now to www.numismaster.com and click on the Free Coin Collecting Online Seminars icon to find out more and to register.