How do you like gold now?

Question

Gold has dropped to its lowest price since mid-April. Any goldbugs getting nervous yet? Rethinking your strategy?

(Not that I have much to brag about--my investments are going down the toilet like most everything else.)

Answer 1

If you are making a profit, sell. It is still very much above its long term average and can easily fall.

Answer 2

I would hold on to it. I see gold prices going up further yet. The reason? China. Everytime China makes a move on something prices go up. Case in point, Cement, Steel, Oil. You name it, they're buying it for their infrastructure development. Now that there is an emerging middle class in China, they are all getting luxury goods that have been long frowned upon. Gold is at the top of that list. As long as that consumption conitues at it's pace (and I see no signs of any slowdown), prices will continue to rise for the mid to long term.

Answer 3

I am trying to hold on for some more time....

Having a hard time though...