A Gold Fetish
By Rohan Pinto on May 24, 2005
Fetish !!, yes it's true, People have fetishes, all kinds of them, sometimes they are really wierd. Well, I have this fetish for GOLD. Now dont get any wierd ideas. What I mean by the term fetish here is a derivative from the definition of the term gold on wikipedia. I just have a preference for investments in gold rather than the NYSE. Gold happens to be an excellent way to manage wealth. In 1999, Alan Greenspan, then Chairman of the Federal Reserve Board of the United States of America, said: "Gold still represents the ultimate form of payment in the world.". Gold has a tendency to move independently of all other economic factors. I remember from a long time ago, when I wasted my money (everybody gets addicted to some form of vices I guess) on Gold, I was laughed at by all my friends who made hundreds of thousands of dollars by playing with the stock markets. Well, I felt so left out during discussions and parties as all they spoke about was day trading, fast sell, short sell, (whatever those words meant.. I still dont understand them completely) etc. Some made a hellava lot, and pulled out at just the right moment. But some of my friends were not so lucky. They lost..BAD. It's all a gamble. You win some. you loose some. But with Gold, it's different. The price of Gold has been at it's highest level in the last 16 years. And many market watchers expect the price to go higher still in 2005. As the buying power of the US dollar has diminished in the recent past, the price of Gold has risen about 35% in US dollars. I dont have any special gifts to forecats the future, But however, I believe that the price of Gold would continue to rise... at least untill the point where the dollar gives the euro a run for it's value. Paul Merriman from CBS Marketwatch says : "Gold is for speculation, for turning quick profits. It's not suitable for asset allocation. Two years of good returns in Gold funds doesn't mean any more about the near future than several extraordinarily good years of technology funds meant three years ago." Well; I disagree with the experts. (not that I know more than them). I just believe that Gold is a way safer investment that one can have. It may not sky rocket your earnings and profits. It's a slow, steady and gradual climb. HEY !! did I just say climb. True. A gradual upslide is way better than a downslide am I saying it right? And the Upside I'm always gonna have is that I have an extremely happy better half
So all said an done, The gifts I always love to receive is Gold; and with my birthday soon approaching, you could send me some Gold.
BTW : When I buy Gold, I dont mean Gold like what the americans are used to. NO WAY !!, not 14, 16 or 18 carat. I mean 24 carat !! or 22 carat at the least. (after all I have that DESI gene)