A friend of mine from India was asking my opinion about the price of gold. His sister is getting married in about eight months, should they buy some ornaments now?
Well, already the price is up nearly $120 per oz after the steep price decline recently, so I guess it will trade in a price channel i.e. hit a top and then retrace. So I suggested to my friend that a buying opportunity could be in the future.
However, the couple or their parents should consider buying their own house, I suggested. That is a good investment, long term, a roof over the head and pride of ownership, better then renting, wherever the figures work out in favour.
On that note, I reckon house prices seem very attractive in Spain as well as in the English shires. Parts of rural India are also very good, for those who can live in the 30-40 degree heat during May to September.
The U.S. housing market has started to pick up, and that is a good sign for the strength of the economy. I surmise the job figures this month will be something to write about. Anyway, for the individuals and families, it is a great idea to buy a house or apartment at the record low rates. If there is job security, and more jobs are created, that would be fun. I hope the money masters can issue mortgages to people so that they can buy the houses, ultimately that will underpin the whole market and give strength and stability to the whole economy. Not to mention the happiness people have in having a house of their own.
I believe China will see improved growth this year, so for the world picture to balance, Oil needs to be a little bit cheaper.
As the Dreamliner once again takes to the air in June, I expect a happy world picture. As I say, Oil needs to be cheaper, and that will help sustain growth in the oil exporting nations also.
How do I feel so optimistic? Well, I was looking through Bob Proctor's book, You Were Born Rich.
Bob Proctor, like Ron G. Holland, inspires confidence in the future.
May God's blessings and happiness be with you.