The Goldwatcher: Demystifying Gold Investing
Gold has long been used as money and as a store of wealth, but
what's the source of its value? Why does that value sometimes rise
so high and at other times fall so low? And what do we know about
gold's complex and often tumultuous past that may yield clues about
how it may behave in the future?
Gold is a side show on a world financial stage dominated by the dollar. The tail can't wag the dog -gold prices are affected by changes in prospects for the dollar and not vice versa. With uncertain outcomes for the American and global economies, gold's stateless money franchise makes this book compelling reading.
"John Katz is a clear eyed independent strategist and analyst
with an extraordinary ability to get to grips with subjects ranging
from biotechnology via alternative energy to commodities and gold.
Uniquely for a commentator on gold he has no dogmas. To assess the
risks and rewards that come with owning gold he introduces opinions
from an impressive range of commentators, examines different
scenarios that may play out on the world economic stage and
highlights situations when owning gold makes sense and when it
doesn't. To complete the picture Frank Holmes's contribution to The
Goldwatcher explains the risks and rewards. The Goldwatcher has
been written for 21st century investors. It will be an
indispensable resource for responsible people from institutional
money managers to private savers - whether the gold price moves up,
down, or sideways."
—Patrick H. Spencer, Managing Director, Head of Institutional Sales, Robert W. Baird Limited, London
"Frank Holmes's stellar track record as a resource portfolio
manager is a clear reflection of his understanding of the business,
the markets and the factors that affect them. His success is as
much about unearthing value as it is about creating an investment
process that is religiously followed. If you want to succeed in
your resource investment,this book is a must. It's all the more
enjoyable because the writing style is easy-going,clear and
—Pierre Lassonde, Former chairman, World Gold Council, and past president, Newmont Mining Corp
This book is also supported by The Goldwatcher blog - http://wwwthegoldwatcher.com, which addresses news and developments affecting gold and the dollar, updates statistical information and links with sources for data and commentary.
List of Charts and Tables.
Part One: Demystifying the Gold Price.
1. Introduction: Why Gold?
2. The Gold Mining Industry.
3. Gold Supply and Demand.
4. The Rise and Fall of the Gold Standard.
5. The Dollar Standard and the 'Deficit without Tears'.
6. The Economic Consequences of 9/11 and George W. Bush.
7. The End of Cheap Oil, 'Chindia' and Other Tipping Points to Instability.
8. Globalisation & Global Economic Rebalancing.
9. Gold Prices: Inflation, Deflation, Booms and Busts.
10. Investing Choices.
Part Two: Gold Investing Strategies (Frank Holmes).
11. Inside U.S. Global Investors.
12. Investing in Gold Equities.
13. Gold Mining Opportunities and Threats.
Part Three: Appendix.
Frank Holmes is CEO and Chief Investment Officer at U.S. Global Investors,Inc., which manages more than $1 billion in precious metals funds and provides advisory services to international clients.He was Mining Journal’s fund manager of the year in 2006, and is a prominent speaker at investment conferences and a regular commentator on financial broadcast networks. Mr Holmes has more than 30 years’ in the investment field.