Gold Mining
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Keith Fitz-Gerald: "I am Buying Gold and I Intend to Buy More if It Goes Down"
Apple plunged below $400 per share, while gold prices remained well under $1,400 an ounce.
What's going on in the markets?
Stuart Varney of Fox Business' "Varney & Co." put that question to Money Morning Chief Investment Strategist Keith Fitz-Gerald Thursday.
Of Apple, Keith said, "I wouldn't touch it," then ticked off a number of reasons.
But Keith had a decidedly different take on gold, saying, "I am buying gold and I intend to buy more if it goes down, and I hope I'm smart enough to do it for a long time to come."
Asked what else he's investing in, Keith said he's "cautiously buying" energy, defense technology and medical technology stocks.
To hear more from Keith on these topics as well as his view of the massive money-printing in Japan, watch the video below.
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Why Gold Really Crashed and What You Can Do About It
The news is great at telling us what's happening. But knowing what's happening is a lot different than understanding what happened - and that's what makes the difference between an average investor and truly great investors.
Gold's crash Monday is a perfect example. The media was falling all over itself as one pundit after the other came on TV to talk about how gold was falling and how far off its highs it was. Few tied the devastating slide to real economic events -- let alone made the connection to actual trading.
But that's my bread and butter. Today I'm going to tell you what really happened and why - from a market insider's perspective. Then I'm going to tell you what to expect next and, most importantly, how you can use the situation to your advantage.
There are three fundamental things going on - all of which are at a very high level and all of which are completely transparent to most investors:
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While Banks Crumble, The Next Leg Up For Gold Prices Draws Near
Something's afoot in the world of high stakes finance.
The Basel Committee for Bank Supervision (BCBS) is about to decide something crucial to bankers, sovereign nations, and gold investors alike.
As part of the Bank of International Settlements (BIS), the BCBS is reviewing the upcoming new Basel III rules. That may sound arcane to you but I promise it's not.
Though rarely discussed in the mainstream press, the all-important Bank of International Settlements is essentially a global central bank to the world's central banks.
Its goal is ostensibly to provide global stability to the monetary and financial systems.
And in a surprise twist that only a few years ago would have been considered preposterous, the BCBS is entertaining whether gold should qualify as a full-fledged Tier 1 capital asset.
Currently, the precious metal is relinquished to a Tier 3 status, deserving no more than a 50% weighting at that.
Here's why that distinction is important and potentially astonishing.
Achieving Tier 1 status would credit gold with the recognition it's been denied ever since Nixon closed the gold window on August 15, 1971.
In essence, it would mark the official recognition that gold is real money.
But that's not the only reason gold is gaining respect. Other factors are brewing that will set the stage for the next leg up in gold prices.
As Banks Teeter, Gold Gains Respect
One of them is the crumbling state of world's banks. Once unwavering, the trust in these financial ivory towers is precarious at best.
In the last couple of months alone, Greek depositors have withdrawn billions of euros in deposits, as the fear of a "Grexit" looms large.
Not to be outdone, Spain banks have been emasculated by the Iberian nation's own bursting real estate bubble. After denying for weeks that a bailout would be required, officials finally caved to a "Spailout", giving Spain's banking system a 100 billion euro rescue package.
This phenomenon is not exclusive to the Eurozone either.
To continue reading, please click here...
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Think Gold Prices Have Peaked? Think Again
If you think gold prices have peaked, think again. Gold may have fallen from its June 18 record high of $1258.30 an ounce, but the yellow metal is in for the long haul.
In fact, Credit Suisse Group AG (NYSE ADR: CS) has increased its long-range forecast for gold, arguing in a new report that prices should remain near current levels for at least the next four years.
CS analysts' 2014 target is now $1,300 and ounce, compared to their previous forecast of $1,120. That may not seem like a very brave forecast since gold is already trading at nearly $1,200 an ounce. But it has profound implications for gold miners, because mining stocks are priced based on expectations of future earnings. Removing the expectation that gold futures prices could slide way back removes an impediment to shares going higher.
The rationale for the change: Credit Suisse believes there is an 80% chance of a renewed quantitative easing - or money printing - due either to a full-blown sovereign debt crisis or a new recession. This enthusiastic and inflationary activity would rev up the safe haven buying that has pushed up gold prices over the past few years. The feeling is that companies and government officials may cheat and lie, but gold is as steady as a rock as an irrefutable, trusted source of value.
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The Case for $5,000 Gold: And How to Profit
The gold bug is unstoppable. Prices are up four-fold since 2001... and they're not stopping anytime soon. Could $5,000 per ounce be in our future? Read this report to find out why gold is being pushed through the roof - and four ways to profit from gold's rise.
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Three Ways to Profit From the World's Luckiest Country – Australia.
When the late Donald Horne called Australia the " Lucky Country" in 1964, the professor and well-known social critic meant it as an insult: He believed that while other countries were getting rich by developing special skills and embracing new technology, Australia prospered just because it happened to sit on a pile of valuable natural resources.
Well, in the global world of 2010, skill and technology are " two-a-penny" ubiquitous in an emerging-markets world in which billions of industrious people are competing against one another. In this new reality in today's world, natural resources are the key to global wealth.
And Australia is a prime beneficiary of that new reality.
For three ways to profit from this "new reality," please read on...
