Goldwatcher: Demystifying Gold Investing
Why did the price of gold hit record highs in 2008? Take a look at the headlines - government bailouts of failed banks, mortgage and credit crises, rising inflation, slowing growth and global insecurity. In order to protect themselves from treacherous financial markets and depreciated paper currencies investors worldwide are turning to gold.\ Gold has long been used as money and as a store of wealth, but what's the source of its value? Why does that value sometimes rise so high and at other...
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In this remarkably clear and accessible book, authors John Katz and Frank Holmes explain everything the independent investor needs to know in order to invest like a professional. Presented in two parts, Part I demystifies the gold price by tracing its history and placing it in the current context of twenty-first century economic realities, explaining when to buy gold and when gold prices do or don't make sense. As an unbiased independent analyst John Katz is neither a gold bull nor a bear - rather, he offers an insightful analysis of gold's role in an evolving global economy. In doing that, he pulls together and sometimes pulls apart the arguments and assessments of leading commentators from money management, investment banking, academia, and the financial media. Part II gives the reader a rare glimpse into the intricate workings of a leading gold investor. Frank Holmes is one of the world's most authoritative voices on the yellow metal, and an award winning fund manager. By opening a window into his company, U.S. Global Investors, Holmes provides an insider's vantage point to examine the many opportunities and challenges facing gold investors. Some of the nuggets from Holmes include: Here comes China - both as a gold consumer and gold producerWatch oil and the dollar to understand gold as an investmentBullion as a value investment and gold equities as a growth investmentReturn on capital as the best yardstick to use when measuring a gold-mining stockThink of gold as portfolio insurance, not as a way to get rich
Foreword (Dr. Marc Faber). List of Charts and Tables. Acknowledgements. Part One: Demystifying the Gold Price. 1. Introduction: Why Gold? 2. The Gold Mining Industry. 3. Gold Supply and Demand. 4. The Rise and Fall of the Gold Standard. 5. The Dollar Standard and the 'Deficit without Tears'. 6. The Economic Consequences of 9/11 and George W. Bush. 7. The End of Cheap Oil, 'Chindia' and Other Tipping Points to Instability. 8. Globalisation & Global Economic Rebalancing. 9. Gold Prices: Inflation, Deflation, Booms and Busts. 10. Investing Choices. Part Two: Gold Investing Strategies (Frank Holmes). 11. Inside U.S. Global Investors. 12. Investing in Gold Equities. 13. Gold Mining Opportunities and Threats. Part Three: Appendix. Notes. Bibliography. Webliography. Index.
