Coach Mark here.

Golds move this week has been impressive. Pretty intense move to say the least! As we wait for momentum to play out in the coming days and weeks, I find myself this morning thinking about Warren Buffett. Something I have been doing quite a bit of lately.

Now thinking about Warren Buffett in the context of gold is always funny as he has never been a fan of the pet rock. I think he owned some gold miners once for about a nano second but he has never exactly been a cheerleader for gold. What he has been a cheerleader for is conviction and view of the long-term.

Gold bugs is a term used to those who actively promote gold as an investment. When the term is used it is usually not used in a flattering way as someone individuals who believe in gold long-term do not have a fundamental case for the “pet rock.”

Well regardless of how it is used I certainly can be put in the gold bug camp. This week it has been nice to be a gold bug.

Have a fantastic Thursday everyone and look for the video series that I will be doing on Warren Buffett that will be released on our YouTube channel soon.

Chart of the Day: Gold Futures (/GC)

Nice move for gold this week. It is going to be interesting to see how things play out from a technical perspective from here but this week has been a reminder that that little section of one’s portfolio devoted to gold certainly deserves its spot.

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