The Problem Of When To Sell Gold

As excerpted/reprinted by FT Alphaville's blog, Dylan Grice's advice is to wait until an inflationary crisis impels governments to shift to a tighter monetary policy and fiscal restraint. That won't happen anytime soon.


Grice's perspective is that of a long-term holder of gold; it's not a trader's. I have one more point to add: at first, such resolve won't be believed. That was the case when Paul Volcker announced a shift to targeting the money supply in late 1979: at first, almost no-one believed that he'd have the resolve (and/or political strength) to follow through.