Funny, I also bought GLD, on April 11th to be exact, and am scratching my head wondering why it went up so much. But it behaved as I suspected it would. The question now is: how long to hang on.
A previous post said that the price of gold is a reflection of the value of the dollar. If this is the case, why isn’t the dollar falling proportionally to the Euro, Yen and Pound?
I am at a loss for an explanation but propose the following theory: The price of gold may be a reflection of percieved government printing press activity.
To tie this back into real estate, which is the theme of this outstanding web site, those who are able to make money in gold over the next several years (assuming it goes up) may be in a position to pay cash for a house in San Diego.
