All That Glitters - Gold Makes All-Time High

on India rumor, and very real U.S. dollar plunge.

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Update (8:22 PM PST): IMF sold 10 tons of gold to Sri Lanka. The latest gold price from Kitco.com:

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Spot gold hit $1,187.40 per ounce today (still trading). This is a screen capture from a gold site Kitco.com.


The Indian government is rumored to be negotiating with IMF for the purchase of the remainder of IMF's gold (another 200 tonnes). (Here's thestreet.com's article.)

Big-shot hedge fund billionaires (Paul Tudor Jones, John Paulson, David Einhorn) have all gone long on gold. (Read the article on MarketWatch.)

Many dismiss it as "bubble". (Gold was $1045 when this article was published in early October.)

Many think gold is still "undervalued" (here and here and here).

So far, I'm very happy with my investment in gold ('paper' gold, in the form of leveraged ETN - exchange-traded notes). I wish I had had a courage to double the position when it was less than half the price of what it is at today.

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