Why Dave Is Now a Goldbug
Author: Dave Kansas</br></br>Want to get an investment debate started? Start talking about gold.</br></br>The scrum surrounding the yellow metal ranges from those who deride it as an archaic investment ("a barbarous relic!") to those who believe it is the essential store of value through the ages (goldbugs). Gold elicits passion in a way that 100 shares of Consolidated Edison never could.</br></br>Today, with gold seemingly riding high -- it hit records again this past week -- it might surprise that the bull case still has a lot of merit.</br></br>Late last year, I was among the deriders, warning people to steer clear of gold. That was way back at $1,000 an ounce. Today gold trades at around $1,400 an ounce, a sweet 40% gain. (It closed last week at $1,384.)