Gold Extends Biggest Slump in 18 Months - Bloomberg

Undaunted
Two day of steep declines this week foreshadow the inevitable.  At some point in the future the spot light on gold will have dimmed and folks will have moved on to another  "Golkonda"  


Sifting through the tea leaves of news, blogs and chatter during and after this recent price move I am struck by an undaunted spirit of belief in the reality of our current valuations of the yellow metal that I have spent much of my life forming into adornment.  I am struck by gold's enigmatic glimmer.  As we have moved from the garden or the cave into our current dwellings, we have transformed the yellow paste into our storehouse of sentiment and it would seem our perceived last vestige of intrinsic value.


Lest we  find ourselves victims of short shortsightedness,  intention and outcomes should be considered in these endeavors. Is the goal to park gold or to make money? 


Buying for parking would have been less painful some years back, but if things are to go to hell in a hand basket, then perhaps a wise decision  Monday morning.  


To make money the inevitable question is when to profit and to do that  at what point we are in this price cycle must be determined in order to choose wisely. 


I will close this musing with a question and a hint to my answer. 


Is Gold or the Dollar our currency?  


What do you expect to be holding in your hand when the profits are paid.


I have included the following News article for your consideration.


“Gold is a trade, gold is a position, gold is volatile, but gold is not safe,” Dennis Gartman, an economist, wrote today in his Suffolk, Virginia-based Gartman Letter.

Gold Extends Biggest Slump in 18 Months - Bloomberg:

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