Market Analysis: GOLD 1/29/2014

Gold is up 3% in 2014

Even though the stock market has been in turmoil lately there are some traders who are still rejoicing. Gold investors are very excited about the 3% gain so far in 2014. Congressman Ron Paul seems very optimistic about the yellow metal saying that gold is still a safe haven.

Ron Paul says that the 2013 decrease in golds value was just a blip on the screen. "I don't see gold so much in short-term because I see it in over a 100-year period," says Paul. "Long-term, it will always go up so long as we have a Fed printing money. But, on the short-term, the traders have a lot to say about this. A correction like we just had last year – one year out of 13 – that's not a big correction. That doesn't destroy a so-called bull market."

Ron goes on to say that investors will always flock to gold because its been a safe haven for 6,000 years! At the time of this writing gold is up 2.07% on the NasdaqGS.