Gold is retracting, giving back much of its gains for the year to date. We are seeing gold at mid-January levels and it is finding resistance in any moves over $1675. The projection for 2012 ,an election year, are for mostly good news and economic sunshine. Jim Rogers, Chairman of Rogers Holdings, commented while on CNBC’s The Kudlow Report, This is 2012. There’s an election in november. There’s an election in france. There are 40 elections this year. The germans are having an election a year from now. You will see a lot of good news and a lot of money being spent. A lot of money being printed. Yes, this year’s fine. Worry about 2013. Be panicked about 2014, but this year, a lot of good news is coming out.
Jim Rogers isn’t alone he is join by Marc Faber , of the Gloom, Boom & Doom Report, who told CNBC, If you don’t own any gold, I would start buying some right away, keeping in mind that it could go down. He was later quoted in ETF Daily news: The possibility of the gold price going down doesn’t disturb me, says Faber. Every bull market has corrections. Adding that investors who own no gold today should immediately begin to incrementally allocate no more than a total of 25 percent of their portfolio holdings in gold.
We have commented on Fed Chair Ben Bernanke’s change of tone on QE3 & the economy after Rep. Ron Paul blasted him on the floor of Congress about the real value of silver & gold. This year is should be viewed for investors as the summer before the long hard winter of recession. Now is the time to acquire precious metals & rare coins to build up your Tangible Asset Portfolio.