2012-01-04

Gold’s 11th straight year of gains

Following gold’s 11th straight year of gains, long-time gold bull Richard Russell predicted further gains for the yellow metal in 2012.

Russell discussed his latest thoughts on the yellow metal in the most recent edition of Dow Theory Letters, the world’s longest-running daily investment letter.

“To my knowledge this is the longest bull market of any kind in history in which each year’s close was above the previous year,” he wrote. “This fabulous bull market will not end with a whisper and a fizzle. I continue to believe that the upside gold crescendo of this bull market lies ahead. We are watching market history.”

Russell – who turned bullish on gold near the start of its bull market in 2001 – went on to say that “I note the frustration and anger of the anti-gold crowd. To miss 12 years of rising prices is enough to make any investor furious with himself. I would guess that 99 percent of Americans have never participated in the gold bull market. Thus, sour grapes is the sentiment of the gold-haters. Happy to say my subscribers who listened to me in the early years of the gold bull market have enjoyed the riches restored upon them by the greatest bull market in history.”

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