A Krugerrand or Two


One of the measures by which risk is under-priced is gold. We don’t know what unknown will reach out of nowhere and grab us by the collar. But we hope to have at least a Krugerrand or two in our pocket when it does.

Yesterday, the price of gold shot up more than 18 dollars. What reality did the gold market see? Fanatics in Iran… Democrats in Washington… a lame duck in the White House…? We don’t know.

GoldCorp (NYSE: GG), meanwhile, told the world that it expects the price of gold to reach $850 within two years. And who knows?

The Daily Reckoning
The Daily Reckoning offers an independent and critical perspective on the Australian and global investment markets. Slightly offbeat and far from institutional, The Daily Reckoning delivers you straight-forward, humorous, and useful investment insights from a world wide network of analysts, contrarians, and successful investors. Founded in 1999, The Daily Reckoning is published in 7 countries with a worldwide readership of almost 1 million people.

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