Are you a fan of gold? Here at Profit Watch we don’t really take sides – we’ll just play it the way we see it at any given time (although I have to say that personally I’ve long been a believer that it could flirt with $1,000 an ounce...)
Anyway, I read an interesting piece of theory from a legendary US newsletter writer I’ve long admired. I thought I’d share it with you.
The piece comes courtesy of our colleagues at Investor’s Daily Edge in Delray Beach, Florida, who write: “The US-based Gold Anti-Trust Action Committee has long held that the price of gold is being suppressed by criminal collusion on the commodities exchanges.

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“Recently, the esteemed Richard Russell – you may have heard of his Dow Theory Letters, published since 1958 - joined the chorus, writing:
"My thinking is that central banks and others have, so far, held gold back with derivatives and massive short sales. I doubt that this can continue."
“Considering the blizzard of paper money spewing forth from the world’s central banks, it is not a surprise that gold is at $670 an ounce. The surprise is that it is not much, much higher.”
Don’t necessarily take that as your cue to sell your house, rent somewhere and put the proceeds in gold. But you certainly might want to consider tucking a little away.
By the way, if you’ve thought about gold investments before but have never found a decent way to do it, then it’s worth checking out the guys at Bullionvault. It certainly seems a mighty cost effective way to hold gold for the medium to long term.
Check it out at:
http://www.BullionVault.com/ P.S. If you enjoyed this article then we encourage you to sign up for the free Fleet Street Daily eletter. Learn what you can expect from today's markets -- and how to prosper in the face of uncertainty. You won't find more thought provoking writing anywhere on the Internet.

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