Giddy Gold Bugs

One mainstream journalist at a leading publication asks:  “Why has gold lost its shine?  This precious metal has fallen in value and analysts are puzzled” at the Guardian.

Meanwhile, the gold bug community is downright giddy short term after a long and brutal consolidation.  The long term fundamentals have never been brighter either.

The precious metal surge and breakout by Tim Iacono.

Get Ready for Take Off! by the Aden sisters.

Chartology: Silver (SLV) Breakout at See It Market.

Moody’s downgraded its outlook on the European Union at Reuters.  Gold is always the last man standing.

Ron Paul has been preaching about the reserve currency for decades:  Straight Talk.

From A billionaire’s bet on inflation – Frank Giustra interview at Mining:

“…when it was trading under $300 an ounce. Ten years later and with gold now priced over $1600/oz., it still occupies the largest percentage of his investment portfolio, and his views remain the same.

In discussing gold during the interview he said, “I believe it’s going a lot higher…it’s going to have a parabolic spike, caused by some event or some loss of confidence…a US dollar crisis would be a perfect example. That will cause gold to go through the roof, and then everybody will want to own it…I don’t think we’re even close to that yet…Gold will probably have a much greater run than some of the other hard assets–because it’s also a currency.” (19:16)”

FWIW, a link for real time precious metal prices to put in your favorites:  Kitco.