Source: bloomgerg.com
Having watched the daily moves on precious metals for the past several years, it is very discouraging but I truly believe that one day (hopefully very soon) the price of gold as well as silver will do a moon shot.
Well hopefully Egyptian billionaire Naguib Sawiris knows something I don't, he recently made an extreme bet by investing half of his net worth into gold. His net worth is $5.7 billion. Given that he must have some knowledge on investing as he has amassed 5.7 billion, there must be a reason why he is willing to make this bet.
He states that he believes that gold is going to rally to $1,800 and he feels that the stock market is overvalued. He believes that people move to gold during times of crises and as everyone can see the world is in crisis.
Mr. Sawiris is Egypt's second richest man, he is heavily invested in the telecom industry as well as property and financial assets. It would seem that to follow his lead on investing in gold would be a safe bet.