A Free Article for Non-Members: Did You Buy Gold in June 2019 When It was Under $1400
Gold is now around $1800. A little over a year ago, it was under $1400.
One of the most successful commodity futures investors in history is Paul Tudor Jones. He is worth an estimated $5 billion.
This video was posted on June 13, 2019. I posted it for my subscribers on June 22.
This is from Kitco, the precious metals site.
Did you miss this run?
Maybe there was a good reason for missing this run: you had bought gold long before. You didn't need to buy any more. Was this your situation?
I ended my June 22 article with this:
I assume that you have already positioned yourself in the gold market. You should be pleasantly pleased with what is going on. I don't recommend buying in a major upward move, but I must admit that when Paul Tudor Jones says something is going to go from $1400 to $1700 in a short period of time, that catches my attention.
People understand that buying gold is a way to short the economy. It is a way of saying that they don't believe that happy days are here again.
Most people do not want to believe that the world that has given them enough money to buy some gold is not going to persevere. They do not want to think that the political rules have changed. But they have changed.
People don't want to live in hunker-down mode. But the world is locked down today. It is in hunker-down mode.
People don't want to believe that their financial futures are at risk. But how can we have this much unemployment and this large a deficit if the financial futures of 30 million Americans are not at risk? Obviously, their careers really are at risk. They don't have careers anymore. They are on the federal and state doles. They are welfare recipients.
Everybody wants to believe this will all be over soon. What evidence is there for this faith?
People don't like making major changes in their lives. That was also true of the 30 million people who had jobs on March 1. They don't have jobs anymore.
I suggest that it is time for you to rethink your priorities. It is time for you to figure out how you are going to keep your job, get an occasional raise, and not lose your money in your 401(k).
Ask yourself this question: "Why didn't I buy gold when it was under $1400?" That will help clarify the differences between then and now.