Contrarian Investor UK invests mainly in UK FTSE and AIM listed shares. Like famous contrarians, Warren Buffett and Anthony Bolton, he likes to take a different view to the crowd of investors. He prefers the short term, possibly speculative trade, to the long term hold and takes the view that it's about "buy and research" not "buy and hold"! This blog tracks Contrarian Investor UK's thoughts on the stockmarket and his portfolio's trades. Move against the herd with the Contrarian Investor UK!
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Thursday, December 3, 2009
Appetite for risk continues
Gold continued its unstoppable rise today moving ahead of $1200 an ounce as the dollar fell heavily and the metal continued to have appeal as a safe haven against future inflation risks.In addition some of the emerging markets continue to be heavy gold buyers e.g. India. As some traders talk about $3000 an ounce it feels like we're well into yet another bubble. Remember the Goldman analyst who was talking $200 a barrel oil in 2007? Gold is the new oil! With the dollar getting hammered, it doesn't look like anything can stop the metal's upward momentum. But with everyone piling in, maybe it's going to be time soon to go against the stampede!
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