Time To Buy
March 24, 2010As of this writing the dollar is up to $81.71. For those of you that don’t understand the dollar index, it is an average of 6 foreign currencies that are weighed against the US Dollar. The dollar being up now causes the price of gold to drop. In January, when gold was at an all-time high of $1,227, the dollar index was at 74.71. As you can see, since the dollar is up, gold has dropped; it is the time to buy. I will be trying to buy everything I can for our business as gold is down.
Yesterday, I purchased a major gold collection at $1,106 per ounce and as of today we would have lost $14 per ounce at his time because the spot price of gold is now $1,092.10.
Most people would be nervous about buying 59 ounces of gold and losing $14 per ounce but we opt to look at the positive side of doing dollar-cost averaging and continuing to buy when it’s down. I truly believe that $1,500 per ounce is a real figure with all of the unrest and all of the info we continually sift through on major credible sources of information. BUY NOW!
