Resources expert Larry Edelson has just completed a six week tour of Asia; from his final stop in Dubai, he writes, "Gold is being gobbled up like it's going out of style."
The editor of Real Wealth notes, "In my 30 years in the gold market I have never seen the volume of gold trading and the lust for the precious yellow metal like I saw in Dubai." Here's his latest buys in the sector.
He explains, "The major fundamental forces behind high gold prices haven't changed. The U.S. dollar is very weak in the knees and inflation is rampant, despite what the government's numbers say."
He notes that the U.S. dollar continues to lose value against other major currencies. He points to both private and public debt problems as the root cause, along with troubles in the real estate sector and "political infighting" that is maaking foreign investors "think twice" about putting their money in the U.S.
He forecasts that the dollar's decline will continue, which in turn, will push up inflation. He notes, "All you have to do is look at your monthly bills and regular purchases."
To protect against inflation, he believes the best strategy is to invest in gold. And in this sector, he offers two new mining recommendations.
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