Gold momentarily touched $1800 an ounce last year and is now trading under $1700, so it may come as a surprise that — taking 2012 as a whole — gold had its best year since 1920.
So reports Bloomberg News.
At Kamaaina Loan and Cash For Gold, we buy and sell gold. We do not predict whether it will be higher or lower next month or six months from now, because we just don’t know.
What we do know is that we offer you the best price you’ll find any day in the week.
Notice Bloomberg reports that some famous investors are betting gold to go up:
Investors from John Paulson to George Soros have a $140.6 billion bet via near-record holdings in gold-backed exchange- traded products after the Federal Reserve said Dec. 12 it would buy $45 billion of Treasury securities a month as of January, adding to $40 billion a month of mortgage-debt purchases.
That’s kind of funny reporting, because all last year Bloomberg was reporting the details of Paulson’s failed bet on Chinese trees, where his fund put hundreds of millions of dollars into what turned out to be imaginary forests.
Paulson got famous by making a spectacularly good guess about mortgage securities but it was just a guess.Maybe he’ll have better luck with gold. At least gold exists