Ron Paul Interview with Kitco News on Gold's Volatility

[tsai3904]

Gold’s recent ups and downs are simply keeping with its tradition of being volatile, said former U.S. congressman Dr. Ron Paul in an exclusive Interview with Kitco News.

“It is up and down, and it has been doing that a lot lately,” Paul said. “If (investors) are in gold for a short time to make a quick killing that ought to make them very nervous,” he said of gold’s recent correction in April. Prices plunged 14 percent in the two sessions to April 15, the most since 1983, and hit a low of $1,321.95 an ounce on April 16.

The excitement and the concern surrounding gold is greater than the need to be so excited and concerned he said on the sidelines of the recent Metals and Minerals Conference in New York.

Paul said that historically there have been high periods of volatility but it is important to look past these short-term corrections. Looking back, Paul reflected that in the 1970s gold went up to almost $200 an ounce then plummeted back down to close to $100 an ounce two years later.

“Everybody thought the world had ended for gold," he said. Paul added these should have been seen as simply corrections in a roaring bull market.

Soothing nervous investors Paul had this advice to offer, “I was told one time that you shouldn’t be concentrating so much on the price of gold. What you should ask is, ‘how many ounces of gold do you own?’”

More:
http://www.kitco.com/reports/KitcoNews20130527DaC_interview.html

Interview occurred around May 13.

 

[Warlord]

Listen to Ron Paul.

It is absolutely VITAL that you accumulate ounces of gold.

You won't regret it.

Think long term: 15, 20, 30 years.

Just keep saving up what you can and buy when you can.

Ignore the short term fluctuations

 

[sailingaway]

Here is the Forbes write up:

http://www.forbes.com/sites/kitcone...ition-former-presidential-candidate-ron-paul/

 

[sailingaway]

Bump for new interview