Gold Optimists Could be Jumping the Gun

Lately, analysts are growing increasingly giddy about gold’s rise in value to near $1,300/oz. Hey, we said it was going to $1,400 after the extreme sell-off down to $1,055. And recently we warned that if it broke above a downward trend line in rallies, it might even go to as high as $1,450, after previously reaching $1,383.

And that looks more likely now.

But they’re excited for all the wrong reasons.

In the next several months it’ll be time to SELL the precious metal again… not the time to overpay for a relatively worthless investment.

The problem is, many owners are hesitant to part with their gold because of the (misdirected) value they place on the asset. Sure, gold can hold particular sentimental value… but that’s it.

Gold bugs will declare several reasons for investing in and holding onto their stash of the yellow metal. One of the leading tenants they swear by declares gold to be a strong hedge against inflation, dollar manipulation, and crises.

Right now, there is absolutely no evidence of an inflationary threat and absolutely nothing to indicate the dollar’s strong value will weaken. And if you think gold will protect you during times of crisis, just look at the last bubble burst in 2008 – the dollar was the safe bet, not gold.

Again, this is all on top of the fact that a commodity (not a currency) with very little value and very little financial security has been flirting with $1,300 – $1,380/oz.!

The evidence against gold goes much further. In our latest infographic below, The Top 7 Cases Against Gold, we reveal the top seven cases against gold and why we’re approaching the perfect time to part ways with the yellow metal… and maybe even make a bet against it.

Harry
Follow me on Twitter @harrydentjr

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The economist who predicted the 2008 Meltdown, 13 Years BEFORE it happened, is releasing his latest research on the future of gold prices, which are set to collapse further than you ever… Read More>>
Harry Dent
Harry S. Dent Jr. studied economics in college in the ’70s, but found it vague and inconclusive. He became so disillusioned by the state of his chosen profession that he turned his back on it. Instead, he threw himself into the burgeoning new science of finance where identifying and studying demographic, technological, consumer and many, many other trends empowered him to forecast economic changes. Since then, he’s spoken to executives, financial advisors and investors around the world. He’s appeared on “Good Morning America,” PBS, CNBC and CNN/Fox News. He’s been featured in Barron’s, Investor’s Business Daily, Entrepreneur, Fortune, Success, U.S. News and World Report, Business Week, The Wall Street Journal, American Demographics and Omni. He is a regular guest on Fox Business’s “America’s Nightly Scorecard.” In his latest book, Zero Hour: Turn the Greatest Political and Financial Upheaval in Modern History to Your Advantage, Harry Dent reveals why the greatest social, economic, and political upheaval since the American Revolution is on our doorstep. Discover how its combined effects could cause stocks to crash as much as 80% beginning just weeks from now…crippling your wealth now and for the rest of your life. Harry arms you with the tools you need to financially prepare and survive as the world we know is turned upside down! Today, he uses the research he developed from years of hands-on business experience to offer readers a positive, easy-to-understand view of the economic future by heading up Dent Research, in his flagship newsletter, Boom & Bust.