GLD

Gold ETF

I called what appears to be the bottom in gold. You probably won't believe me, but I wrote the following to my good friend Speedo a few weeks ago:

One thing I'm thinking is that we may have seen a bottom for gold. GLD (the gold ETF) seems to have stopped around $83 and has gone up the last couple days. I've been tempted to buy, given my previous predictions about $850 spot gold (it's near $858 now, but was around $852 on Thursday), and I think it might be a good long-term play given inflation fears and probabilities.