Sunday, October 14, 2007

A Valuable Lesson for Gold Bulls

Last week, a good friend of mine bought gold futures around $745 an ounce.

Using less than $1,000 in margin, you can buy $30,000 in gold. The thing is, buying gold on a margin like this makes you twitchy. You become very conscious of every little price movement. In this case, my friend found himself checking gold news every 10 minutes and obsessing over its price. ...

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