Quality Products International

Smart money buys Gold

by on Apr.28, 2011, under General News

There are many facets to the question of when to buy and when to sell.

While some may be  hesitant to buy when markets such as Gold are at new all time highs….

Some who base their decisions on technical analysis and charting say that once last resistance lines are clearly broken, there will be stronger gains.

Some who base their decisions on fundamentals say that with uncertain around so many economic and political factors,  gold price will strengthen as a traditional safe haven.

Either way, it intrinsically make sense is to “follow the smart money”. That is to say, look for people who’s judgment you trust and see what they are doing.

Texas University Takes Cue From Kyle Bass to Hold $1 Billion in Gold Bars

The University of Texas Investment Management Co., the second-largest U.S. academic endowment, took delivery of almost $1 billion in gold bullion and is storing the bars in a New York vault, according to the fund’s board.

The decision to turn the fund’s investment into gold bars was influenced by Kyle Bass, a Dallas hedge fund manager and member of the endowment’s board, Zimmerman said at its annual meeting on April 14. Bass made $500 million on the U.S. subprime-mortgage collapse.

“Central banks are printing more money than they ever have, so what’s the value of money in terms of purchases of goods and services,” Bass said yesterday in a telephone interview. “I look at gold as just another currency that they can’t print any more of.”

Gold reached an all-time high of $1,489.10 an ounce yesterday in New York as sovereign debt concerns boosted demand for the metal as a store of value. Gold has climbed 28 percent in the past year on Comex.

Read full story: Bloomberg

QPI Ltd Commodities has been able to hold supply pricing due to our links direct with mine partners in West Africa. That has lead to progressively stronger discounts against market prices.

Contact QPI Ltd, or Connect on Linked In for more information

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