"A Huge Move": Gold Could Double in Next 5-10 Years, Miller Tabak's Roth Says
Posted Jan 06, 2010 07:30am EST by Aaron Task in Investing, Commodities
For most of 2009, shorting the dollar and going long gold was a one-way bet to increased wealth. But gold stumbled more than 10% in December as the Dollar Index mounted a rally, leading some to determine a reversal of trend had arrived.
But there's been no "important change" in the dollar's chart and gold remains a good long-term investment, according to Philip Roth, Miller Tabak's chief technical market analyst.
Gold rallied against almost all major currencies in 2009, Roth notes, suggesting investors are betting not just on the dollar's weakness but a "debauching" of paper currencies worldwide.
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