It's been a while since I've updated The Gold Market blog. That's mainly because I know that the journey gold is on is not an overnight one, and I was getting a little obsessive about gold, reading about it every day and getting anxious for gold's inevitable rise to occur immediately. So I decided to take a break from thinking about gold for a while and work on some other blogs I keep up.
But this week I delved back into gold news once again. Things are much as they were before, with the public's confidence in the economy swinging back and forth. But the stuff seems to be hitting the fan a little bit with the bond market hitting its lowest point of 2009, and with US government warnings about the health of America's banks.
The short of it is that the price of gold has risen by around $75 per ounce since the beginning of this month. In fact it is rising in all currencies. People are realizing that the hope instilled by Obama's stimulus package was not a solution to our problems, and that the amount of debt caused will be staggering.
So basically, everything is progressing as normal. But since the same patterns keeps recurring, I've also left my gold investments on autopilot, buying the same amount of gold (and silver as well) each month. If there is a big drop (for example if the IMF sells off its gold) then I may buy a larger amount, but I know that the death of our currency will be a slow death so I think it's reasonable to enact a plan for your gold investments and automate that plan. Stressing over the minor swings in the gold market can be exciting, but at the same time it's unnecessary. Gold will hold its value, and its dollar value will skyrocket over the years to come. So just keep buying and trust that the daily fluctuations will not make or break you.