-- Posted Tuesday, 4 August 2009 | Digg This Article | | Source: GoldSeek.com

You might not be able to judge a book by its cover but you might be able to judge a bull market in gold by that way.

The photo above was snapped in the shop window of a leading bookstore in Hong Kong last week, while ‘The Goldwatcher’ by John Katz and Frank Holmes sold out quickly at the Agora Financial symposium in Vancouver recently.

It is a sure sign that a market has either topped or is about to enter a spike phase when books on this investment class are selling well. Remember the famous Dow at 20,000 or 30,000 books of the Millennium?

But I think we have to wait for the gold at $15,000 book before getting really worried. The present gold book offerings are fairly sober guides to the history of the precious metal and the various theories about its future price, and tend to be pretty equivocal.

However, investment books are always out-of-date because publishers have ridiculously long lead times. Thus information will always be six months at least behind the times, and so when you read a prediction about a market top on a book cover it will probably already have happened.

Hence you should look out for sensational predictions on book covers, as they are probably an indication that you should be heading for cover.

-- Posted Tuesday, 4 August 2009 | Digg This Article

About Peter Cooper:
Oxford University educated financial journalist Peter Cooper found himself made redundant by Emap plc in London in the mid-1990s and decided to rebuild his career in Dubai as launch editor of the pioneering magazine Gulf Business. He returned briefly to London in 1999 to complete his first book, a history of the Bovis construction group.

Then in 2000 he went back to Dubai to become an Internet entrepreneur, just as the dot-com market crashed. But he stumbled across the opportunity to become a partner in www.ameinfo.com, which later became the Middle East's leading English language business news website.

Over the course of the next seven years he had a ringside seat as editor-in-chief writing about the remarkable transformation of Dubai into a global business and financial hub city. At the same time www.ameinfo.com prospered and was sold in 2006 to Emap plc for $27 million, completing the career circle back to where it began a decade earlier.

He remains a lively commentator and columnist as a freelance journalist based in Dubai and travels extensively each summer with his wife Svetlana. His financial blog www.arabianmoney.net is attracting increasing attention with its focus on investment in gold and silver as a means of prospering during a time of great consumer price inflation and asset price deflation.

Order my book online from this link

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