Book description
Why did the price of gold hit record highs in 2008? Take a look at the
headlines - government bailouts of failed banks, mortgage and credit
crises, rising inflation, slowing growth and global insecurity. In order
to protect themselves from treacherous financial markets and depreciated
paper currencies investors worldwide are turning to gold.
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
understandable."
-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.
John Katz is an analyst, strategist and financial
writer based in London. To gain experience and qualifications in the
Financial Services Industry he completed the necessary exams to
qualify as an approved Securities Dealer and Trader and, while working
for a hedge fund in London, was accredited by the United Kingdom
Regulatory Authorities. He has contributed articles to the financial
press,commentated for business television and is the author of
Portfolio 2001 - How to Invest in the World's Best
Companies published by Random House Business Books in 1999.
Frank Holmes is CEO and Chief Investment Officer at U. S.
Global Investors,Inc., which manages more than 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.
