It seems almost with each passing day there is a new "Gold Beaks Record" headline. Even if gold corrects this trend will continue and has a long ways to go. If reporters bothered to look at the inflation adjusted price of gold they would see that no records have been broken. Not yet anyway. They do make for some great headlines though. Inflation adjusted prices range from $2,000 to $5,000 and ounce.
A big correction in gold may still be a ways off, and when it does I can't imagine it dropping below $1,012 an ounce. I'm calling this the Indian floor, where India purchased 200 tons from the IMF.
So if you buy in now, and it drops please don't let that scare you and remember why you bought it in the first place. Insurance. So why should you buy now? If you still don't have any physical then you should buy. ETF's and the Commex are now deemed untrustworthy. And if you still looking for another reason, well... What the hell else are you going to buy?
