Gold Bull Market Still Strong, According to Leading Financial Newsletter Profit Confidential


New York, NY (PRWEB) August 26, 2012

The central banks of the East and the central banks of emerging markets continue to buy gold bullion at a steady pace, but in the West, talks of gold bullion being a bubble have resurfaced. But according to Michael Lombardi, lead contributor to Profit Confidential, that is a mistake as theres more room for gold to run.

In the article Why the Bull Market in Gold Bullion Is Far From Over, Lombardi notes that South Koreas central bank bought another 16 tonnes of gold bullion in July.

Over the last 13 months, South Koreas central bank increased its gold bullion reserves by five times, bringing its total gold bullion holdings to 70.4 tonnes, or $ 3.0 billion, says Lombardi.

According to Lombardi, this has continued the trend of emerging market central bank buying of gold bullion of the last few years.

Kazakhstans central bank has made it publicly known that it plans to increase its gold bullion foreign reserves from 12% to 15%, says Lombardi.

The Profit Confidential lead contributor scoffs at the notion that gold is in a bubble: The definition of a bubble includes the concept that everyone is aware of it and everyone from investors to the average consumer wants to get in on the action.

Lombardi notes that not many people tell him that he needs to own gold bullion today because governments are printing money.

The last party I attended had no mention of gold bullion, says Lombardi. Besides central banks in the East buying, there is little talk of gold bullion in the popular media here in the West.

As long as central banks continue to buy gold bullion, you can set aside the argument that gold bullion is in a bubble, because it is not exhibiting any of the characteristics of a bubble, concludes Lombardi.

Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $ 300 an ounce. In 2006, it begged its readers to get out of the housing market… before it plunged.

Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.

To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.

Profit Confidential is Lombardi Publishing Corporations free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.

Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardis current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.







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