• 12 Mar 2013 at 3:59 PM
  • Gold

The Inquiring Mind Of J. Paulson Wants To Know: Why Aren’t You Buying Gold?

By

Prospective Puerto Rican John Paulson may have an unpleasant tax problem here in New York, but he’s got a bigger problem with his biggest investment. Despite his faith in and love for shiny objects, the rest of the world simply does not share his insatiable appetite for gold.

One can understand his frustration. The time seems to be ripe for another historic gold rally:

Gold futures are bumping up against resistance at the well-traveled $1,600 marker, as traders watch European and US economic data diverge. Some analysts point to India’s spring wedding season, an auspicious time to buy gold, as another factor that’s likely to lend prices some support.

Low interest rates and a cash-flush financial system tend to draw investors looking to preserve their wealth into gold and other hard assets.

Gold futures have also benefited from investors who recently re-entered the market in search of a bargain. Some market participants believe that gold’s retreat to seven-month lows was temporary, and saw this as an opportunity to buy the metal before prices resumed their upward march.

And yet:

[T]alk of $2,000 gold seems all but gone.

Gold Bumps Against Resistance at $1,600 [WSJ MarketBeat blog]
Paulson May Move To Puerto Rico To Dodge Taxes [FINalternatives]

Comments (15)

  1. 1
    Posted by Eric Sprott | March 12, 2013 at 4:03 PM

    Because Silver is the NKI!

  2. 2
    Posted by Maxx Kiaser | March 12, 2013 at 4:04 PM

    Because Bitcoin is the new NKI!

  3. 3
    Posted by Mike Matusow | March 12, 2013 at 4:06 PM

    Because me and my friend Jesus are killing it on Bitcoin sites and Jesus knows how to make counterfeit Bitcoin the new NKI!

  4. 4
    Posted by Tom Dwan | March 12, 2013 at 4:08 PM

    What would Jesus bet with?

  5. 5
    Posted by Im_a_Dude | March 12, 2013 at 4:12 PM

    Shaz, using a headline from an 80s TV commercial is not going to make us like you.

  6. 6
    Posted by JP | March 12, 2013 at 4:20 PM

    is he a rican ?

  7. 7
    Posted by Howard Lederer | March 12, 2013 at 5:12 PM

    DAMN! Wish I thought of that Bitcoin Ponzi……….Full Tilt pales in comparison…………..

  8. 8
    Posted by Phil Ivey | March 12, 2013 at 5:46 PM

    Anyone know where I can trade 500K lot of Bitcoin for Obama coinage?

  9. 9
    Posted by Guest | March 12, 2013 at 5:50 PM

    The banksters that run the Fed don't want us to use the bitcoin because then they wouldn't be able to manipulate the subprime with their TBTF salaries and their fat cat CDS insider trading.

  10. 10
    Posted by Dan Shak | March 12, 2013 at 5:53 PM

    Anyone know where I can trade 3 Bitcoin in on shoe deorderizer I'm thinking about hooking up with the old Slam in the near future……..

  11. 11
    Posted by Peter Britto | March 12, 2013 at 6:42 PM

    If gold does not take out the 1500 support the next bull run will take it over 2000. Watch out shorties….The US 16 trillion $ debt and Fed Quantitative Easing makes America a Banana Republic.

  12. 12
    Posted by Irritable Guest | March 12, 2013 at 6:51 PM

    Peter, shut the fuck up.

  13. 13
    Posted by buboe | March 12, 2013 at 9:24 PM

    happy to sell you as much shoe deodorizer as you need at $120/unit

  14. 14
    Posted by HighFrequencyHater | March 13, 2013 at 9:41 AM

    Because Ron Paul and the illuminati is so 2000 late

  15. 15
    Posted by HighFrequencyHater | March 13, 2013 at 9:42 AM

    I would highly recommend not using your real facebook handle if you're going to spout idiocy around the internets.