Gold Finishes Out Year Short Of $700 An Ounce, As I Predicted Earlier in 2006
Near the beginning of 2006, I predicted that GOLD would cross $700 an ounce by year's end. I missed that prediction, and below, I will tell you WHY.
GOLD FINISHES OUT YEAR SHORT OF $700 AN OUNCE, AS I PREDICTED EARLIER IN 2006
Most financial analysts will NOT admit that they were a bit OFF-TRACK in their forecasting and predictions. I, for one, will continue to tell the TRUTH -- as it happens to be the basis for my reputation as a researcher and financial analyst.
2006 began with GOLD at $524.75, and it ended with GOLD at $632.00 an ounce. This represented an increase of $107.25 per ounce, and reflected an 16.97% R.O.I. [return on investment]. Where else have you been able to make an easy 17% return on your money DURING THE LAST YEAR ALONE? Could you do this with your friendly neighborhood bank? How about your 401(k) plan?
Here below, is the 2006 chart of prices of GOLD throughout the year:
I also predicted that SILVER would cross $15.00 an ounce. I missed that prediction by $2.10 an ounce, as SILVER finished out the year at $12.90 an ounce, which was an increase of $3.86 an ounce. This represented a R.O.I. of a whopping 29.93% !! Now, where else could you make a 30% reurn on your money in just this year of 2006? Could you make this much on your passboook savings account (if you even have one that is!)? How about your 401(k) plan?
Here are the 2006 historical prices for SILVER:
SILVER began 2006 at $9.04 an ounce, and finished out the year at $12.90. This was a very healthy $3.86 per ounce!
So, with SILVER delivering a 30% return, and GOLD delivering a 17% return, can you afford NOT TO get involved in precious metals in 2007, which is right around the corner?
Even though I missed the target prediction, I STILL received a combined 47% return on my investments for the year of 2006, and you would have too, if you had invested in precious metals, instead of depending on a U.S. dollar that is quickly failing, as compared to the Euro currency, for example.
Now, WHY was GOLD held to a price level UNDER $700 an ounce? It was due to a situation that I fequently mentioned in my articles throughout the year -- market manipulation by the power elite -- who are scrambling to keep the entire house of cards from falling down around us all. As I mentioned, the way to see for yourself that this is going on is when the curves for GOLD and SILVER become identical. This is something that should never happen, given the fact that they are both mutually exclusive investments.
You too should buy as much as you can afford, even if you start out small and buy some SILVER to begin improving your families' financial health.
Who knows, perhaps at this time in 2007, we'll be talking about another great year in precious metals, while those who are too afraid to make the leap, continue to lose ever larger amounts of money, just as they have all along.
© 2006 Kentroversy Papers
All rights reserved. Used with permission.
The following sources were used in the creation of this Kentroversy Paper . . .
Kitco - Charts for GOLD and SILVER in 2006 - Historical Prices (January 1, 2006-December 31, 2006)
$775 GOLD and $20 SILVER in 2007? (December 19, 2006)