Monday
If you are buying Gold because you think that it will rise in price (value), then you are dangerously misled.
Misled because it is the price of the dollar that is falling, not the price of Gold that is rising. ‘Dangerously’ because when Gold falls in terms of dollars then you will be tempted to sell your Gold.
You are correct to switch as much currency as you can into Gold, but it is important that you fully understand what is ‘in play’ here.
Gold will fall against many/all currencies at some point unknown to me, not because those who hold it no longer want it, but because the credit crisis means that they are desperate for cash and are not able to sell anything else.
There is always a market for Gold. In the desperate times that are coming, people will sell what they have to sell, because there’s no market for what they want to sell.
Yes, all that Gold hitting the market will cause its currency price to drop, but it won’t last. When it begins to rise again, that will signal the beginnings of the real Gold bull market – i.e., the beginning of currency collapse.
It will end when no amount of currency will buy you one gram of Gold.
If at all possible, get rid of any debt that you have now.