We're still very bullish on Gold and believe that those that do the dumb thing (which is not easy) and just sit on their Gold stocks will reap huge dividends over the coming years.
Back in the 1970s/1980s inflation and general world instability had a far greater role to play in pricing Gold than it does today. Nevertheless, the present Middle Eastern situation in our view doesn't look like it's getting any better when viewed over the last 5 years. In effect the Middle East seems to be in a tenacious bear market of bad news, disruption and war.
This among many other reasons can only be good for Gold.
A good article to read on the present situation and perhaps the more likely future situation of the Middle East has recently been published by Professor Walid Phares , author of "Future Jihad," a visiting fellow with the European Foundation for Democracy in Brussels and a senior fellow with the Foundation for the Defence of Democracies in Washington, D.C.
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