Sidebar

[Teach]

First, Secretary of the Treasury Mnuchin talks it up; then President Trump talks it down. Just goes to show how much significance is given to the words of elected officials, how much impact those words can have on the price of gold (and just about everything else).

Yes, the price of gold has been on a recent short-term roller-coaster ride. Yet, I still believe (I mentioned I own shares in a gold-mining company) that over the long haul, the price of gold is on an upward swing.

As a sidebar: The recent gold-price swings only reaffirms why I, personally, do not like to get involved with options.

There will come a time that elected officials' comments on the value of gold will prove meaningless and ineffectual. When that time comes, you'll know that the price of gold will be out of the hands of the Central Bankers.

Personally, I would recommend gold as an "insurance policy" against what many call: "Black Swan" events, unexpected natural, e.g., tsunami, earthquake, volcanic activity, etc. or possible man-made, e.g., nuclear missiles, war in the Middle East, lone-wolf terror attacks, escalating U.S.-Chinese tensions, etc.

In conclusion, I believe that the price of gold is on an upward progression. Sometimes, the rise of precious metals can be both quick and exponential, i.e., 1980. They can be like sharp upward thrusts. In a linear sense, like the sheer, straight-up cliff of El Capitan in Yosemite. If you can catch the upward spiral, it can be extremely lucrative, possibly even life-changing. Yet, these events -- like Halley's Comet -- only come around every so often.