Matterhorn Asset Management

GOLD MARKET UPDATE
Gold had a significant break on Friday 21 November. It broke out of a trading range to a closing high of $ 800.
But more importantly Gold made new weekly closing highs in many currencies including the Pound and the Swedish Kroner and the Euro. Whilst the world’s stock markets in 2008 have lost between 40% and 70%, gold has gained against all major currencies except against the dollar. The table below summarises Gold’s performance in four currencies. Since the lows in the second half of 1999 Gold has gained between 169% and 242% in these five currencies or 18% to 26% annualised.
Gold has also outperformed all major stock
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“There is a tide in the affairs of men Which taken at the flood, leads on to fortune. Omitted, all the voyage of their life Is bound in shallows and in miseries. On such full sea are we now afloat. And we must take the current when it serves, or lose our ventures”
W. Shakespeare, Julius Caesar, Act 4

FORTUNE OR MISERIES

The current financial crisis will have a major impact on virtually every person in the developed world as well as in the developing world. We are today standing at crossroads in our personal lives and affairs. The decisions we take today will either lead us to “fortune” or “miseries”.
Do not for
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