Our Swatch watch bought for Sfrs & USD 50 a year and a half ago, is now worth USD 53.99. Economic uncertainties are making everyone nervous, especially central bankers and currency traders. Oh well…
Did we say uncertain? Not even! Gold closed at $1680!! This in the face of gold bugs of all stripes saying, “Now is the time to buy! There’s hyperinflation coming. Gold is a good hedge, etc.” The more responsible ones say, “Gold is not for everyone. See if it’s right for you.” IFO, among others also says, never go all in either. That’s usualy when the metal is hitting an all-time high, which it did this summer when it briefly went above $1900.
Silver is at $30.98; petroleum is at $97.32. Most prices are down due to currency changes, but some are also down due to regular market forces, according to Kitco.com
Investment lesson: When any commodity or financial market appears on the front pages, don’t buy. Consider selling, but check out capital gains impacts first.
The US stock market closed early, so we can present the Model Portfolio Index early, too: