Insurance against failing dollar

Gold of course (and silver to some extent too) is the best insurance for protecting yourself against a failing dollar. Bullion is the international currency that has always been accepted in transactions throughout thousands and thousands of years.

Gold Seen by Merrill Lynch Rallying Above $2,000 Next Year

Bloomberg News recently published an article with a quote from Merrill Lynch Wealth Management, stating that, "Gold is poised to rise above $2,000 an ounce next year, while lack of clarity on demand outlook and policies in China dim prospects for industrial metals.”

That said, gold should be strong moving into 2013. “We are holding gold at the moment,” says Bill O’Neill, chief investment officer for Europe, the Middle East, and Africa.

After hitting a record high of $1,921.15 back in September 2011, gold prices are expected to rise above $2000 an ounce for the first time. This would be the 12th consecutive year of annual growth, the longest streak since prices were first recorded by Bloomberg in 1920.
While there is a lack of clarity on expected demand for industrial metals in 2013, largely based on China, O’Neill expects gold to stay strong and growing. “This doesn’t necessarily mean we are not going to commit to anything [metals] other than gold in 2013,” O’Neill says, “but for now we don’t see this being part of the portfolio.”

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