That's right, but then you laugh and call into question the intelligence of someone who suggests it might go down. Given that it has been going down for the last three months puts your knowledge into question.
I wouldn't (and don't) put my savings into any single holding. Why take that risk?
Yet the price is dropping, so there must also be selling in greater quantities. I don't think buying gold's a bad bet, but I don't think it's the dead cert you have it as particularly when the worlds largest holder is in such an uncertain place at the moment.
Point 1 - Maybe I shouldn't have used the word 'Intelligence' as it's a bit disrespectful. I did change it after I'd wrote it but you'd already responded.
Point 2 - I haven't advocated putting all eggs into the gold basket, we're merely discussing my views on the old yellow relic
Point 3 - Until you understand the precious metals market and how it works looking at the short term fluctuations mean nothing. I can assure you that whatever the US bullion banks (who probably hold the gold, not Fort Knox) do they will not sell their physical bullion. Yes they may sell billions of ounces of paper metal but not one ounce of physical. Some very large players are manipulating the gold price downwards at the moment, many speculate it's China playing a very smart game, driving down the price by shorting the paper market and using their huge stockpile of dollars to acquire the physical on the cheap.
'He who has the gold makes the rules' as the old saying goes.
But we digress. I think a proportion of our reserves should be in gold. No more, no less.
Wow, have you spent the afternoon on google to come up with point 3. Sounds good!