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If loving gold is wrong, I don’t want to be right

Go, go, go, gold.

Can I be right and wrong at the same time?

Incredibly, the answer could be yes.

In my Dec. 18, 2018, blog I confessed that it looked like my forecast for gold was going to be wrong.

It closed 2017 at $1,306.30 a ounce.

My forecast for this year was it would rise some more.

This prediction looked bleak less than two weeks ago.

But the precious metal has been on a tear ever since.

It has gained about $30 since I wrote my mea culpa.

Where it was skittering along at under $1,250, this morning the Kitco website says gold is $1,277.70.

That is less than $30 away from where it began 2018.

More importantly in the wild and crazy financial market times we are living in, a $30 gain between now and the close of business Dec. 31 is entirely possible.

It is unlikely, true, but looking much more doable than it did on Dec. 18.

Certainly what has occurred in recent days makes me wish I had placed my order for 2019 gold American Eagles in advance on the APMEX website when I wrote about this service.

I would have made a little money in addition to getting the coins I want in the new year.

I was a bit poetic about how I enjoy buying coins on the bourse floor at the Florida United Numismtists convention in early January.

I do. But when it comes to saving some money, the poet in me, if there is one at all, vanishes.

Gold is nearly $70 more expensive now than when I wrote my Nov. 14 blog about early ordering.

If my year-end forecast comes true, gold will be $100 more expensive. Ouch.

This isn’t an investment advice column.

If I had ordered a gold coin, it would have been a one-ounce gold Eagle. Just one.

The sum of $100 is not going to make or break anything in my life other than perhaps to pinch my ego a bit.

Gaining this profit would have earned me bragging rights, I suppose.

Who doesn’t enjoy that?

But today you can still order your 2019-dated gold Eagles in advance on the APMEX site.

If gold vaults back over $1,306.30, you will be glad you did.

I would be in the position of being right with my annual forecast but wrong in my Dec. 18 blog.

I can live with being right or wrong.

The important thing is to get the bullion Eagles you want with the new 2019 date.

By the way, silver also has gained in price since Nov. 14, but there is absolutely no hope for my silver forecast of a gain in 2018.

You can still order the 2019 silver Eagles early as well.

What are you waiting for?

Buzz blogger Dave Harper won the Numismatic Literary Guild Award for Best Blog for the third time in 2017. He is editor of the weekly newspaper “Numismatic News.”

 

The post If loving gold is wrong, I don’t want to be right appeared first on Numismatic News.

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