Following the recent decline in the gold price, many commentators are now saying that the 12 year bull market in gold is finally over. James Turk, Founder and Chairman of GoldMoney, will present his perspective on what's really happening to gold and money, based on his four decades of experience in international financial markets, at a seminar in Jersey on Monday 20th May.
The key theme of the presentation is preservation of wealth, critical given the tough economic times in which we're living, and is a rare opportunity to hear from James Turk: 'In this seminar I will be sharing my analysis of what is happening in the global gold market. There is a key distinction between the price of an asset and the value of an asset, so I will be identifying the underlying logic why I believe gold is still undervalued.'
The price of gold fell heavily in 2008, but within a year it was reaching new record highs: 'This year is shaping up to be similar to 2008. The percentage drop then was bigger than now, but it certainly did not signal the end of the bull market in 2008. With the doubled-edged economic crisis of sovereign debt, where entire countries are over leveraged, and fears of more banks becoming insolvent, there is little surprise that people are looking to preserve their wealth with gold, which is a time-tested asset with a solid track record. It is also money outside of the banking system, and therefore a safe-haven.'