This Month in Gold – October 2010

Sinai Says Fed’s Statement Means “Gotta Buy Gold”
Bloomberg – The FOMC policy statement on Sept. 21 said that inflation too low for the Fed to achieve its dual mandates of price stability and maximum employment. This language was much more aggressive that previous statements, and lays the groundwork for a second round of ‘quantitative easing,’ i.e. money printing. Respected private economist Allen Sinai explains that the statement was “code for: ‘we don’t want to go the way of Japan so we’re going to print money.'” How does one trade this information? “You gotta buy gold,” says Dr. Sinai.
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Gold Bull Market Has a Long Way to Go, Says Jim Rogers
Kitco News – Famed commodities investor Jim Rogers describes the recent gold rally as a direct response to aggressive money printing by the governments of the United States and Japan. Both manage what have traditionally been considered “safe haven” currencies, so their devaluation efforts have destabilized the currency markets. Rogers says a gold bubble will form one day, but not anytime soon — because gold is still an unusual investment for financial professionals, and very rare among retail investors. As recently as this year, he asked the money-manager audience at one of his lectures how many had ever owned gold and only about one in four raised their hands. He recommends everyone own some gold in their portfolio, but sees silver as having even greater potential for gain.
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