Eric Edelstein

One of the news stations flashed Gold at $833 this morning.

833. Did I hear that right. A few days ago I saw gold had gone up to $775 and I thought that was INSANE.

About 5 years ago, I remember watching a Nostradamus type person on TV predicting that Gold would be one of the best investments for the next 10 years. The TV presenter smiled. Gold had been hovering around $250 to $350 for a couple years, the Gold mines were in crisis with forward selling on some of them going horribly wrong, and the Gold shares were a battlefield - only the brave and insane were venturing into Gold board investing.

Kitco is an incredible site which gives you HUGE amounts of info about gold, platinum and some of the other metals.

I was stunned as I looked at the 1, 5, 10 and 20 year graphs - the futurist was RIGHT. The graphs look like a roller-coaster. And in the last week Gold has spiralled upwards by around a HUNDRED Dollars! Think back 5 years and tell ANYONE that Gold would increase by a hundred dollars in a week!!!

And what goes UP must come DOWN. Yes, it’s a limited resource, and yes, there is an OIL crisis, but the financials markets in my opinion have reached the INSANITY stage.

Precious metals as a STABLE INVESTMENT? Not a chance! Gold is now $833. Platinum is $1400! Look at the graph of Gold over the last 20 years. Notice how it spiraled in 1978 - what the graph below doesn’t show clearly is the LAST WEEK - it’s TABLE MOUNTAIN’s toughest trail. Be warned!!!