Monday, May 17, 2010

A Good Point

In a letter objecting to Financial Times columnist "Lex"'s panning of gold, a Mr. Michael Coulson writes:
Sir, Lex continues to bang on negatively about the rise in the gold price as it has done intermittently since gold began its current run eight years ago (“Fool’s gold”, May 14).

The problem is that he compares gold with equities. I have been covering gold for more than 30 years and though the metal is an asset class, many of us “crazy” gold followers also see it as money....


I would have thought that the signal for the end of gold’s bull run would be a bullish article from Lex, not another bearish rant!

As for the last paragraph, I couldn't have said it better myself.

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