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On Gold and Precious Metals


Written by Philip Diehl

Jun 28, 2013

Philip N. Diehl on Gold and Precious MetalsI'm starting this blog during interesting and often confusing times for gold buyers and those considering the purchase of precious metals. My goal is to clear up that confusion by sorting through what's happening in the gold market, explaining why it's happening and what is likely to happen. I take a mid- to long-term perspective on gold. Most buyers of physical gold and gold coins buy and hold the metal.  These are the people I write for.

I don't make short-term predictions of gold prices. I've been active in gold markets for many years, and I've observed that few analysts are good at predicting short-term prices day in and day out.  Sure, some have a good run of forecasts and they become the gold gurus of the day, then they fade. Others, riding a wave of good fortune, take their place and draw the media spotlight for a while.

A few analysts have a better record making short-term forecasts. But they sell their advice to a very exclusive set of clients at a very exclusive price and most of those clients don't buy and hold physical gold. They're traders moving in and out of the gold market using paper gold as a way to make quick profits in a volatile market — and creating more volatility in their wake. Most people I know hate market volatility. Volatility is the bread and butter of these traders.

So, my blog is mostly about physical gold. Although I'll occasionally comment on paper gold and other precious metals. My blog is written for people who are interested in making physical gold part of their portfolio for the security and potential gains gold offers and as a hedge against the economic and political uncertainty we all face today.

I hope you enjoy it and perhaps learn a few things along the way.

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