Gold Hits Record High – Are you buying or Selling? CORNWALL ONTARIO

gold Last time I stepped into Pommier Jewellers here in Cornwall the store was packed with happy shoppers.   Is the high price of gold causing you to buy or sell?   Gold hit $1070.80 US in London yesterday, a new world record.

I always get nervous when a stock or financial device hits a record level as usually that means the odds are that it’s about to go down.  With the recession looking like it’s about to turn into a depression and economic challenges faced by whole nations, never mind just businesses, is it the time to hedge and buy more gold?

What do you think Cornwall?

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2 Responses to "Gold Hits Record High – Are you buying or Selling? CORNWALL ONTARIO"

  1. Glassbowl   October 15, 2009 at 11:52 AM

    It is not so much the price of gold is going up, but rather the purchasing power of the US dollar is going down. The US FED is printing money like crazy and inflation is on its way. Gold is a good hedge against inflation.

  2. admin   October 15, 2009 at 3:01 PM

    Very true Glassbowl. Did you notice the latest report on the new technology for natural gas? It should make the known reserves of useable gas triple world wide and impact Russia’s control over the resource.

    Printing money has never ever been a solution to financial issues.

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