Gold: The latest cure for cancer
Today's Financial News - Posted March 23, 2009
There is word of a new use for gold, curing folks from cancer. Scientists tell us the research is promising and lives could be saved, but is this the news gold bugs have been praying for?
By Andrew Snyder, TodaysFinancialNews.com
Baltimore – (TFN): Just in case the ever-growing threat of rampant inflation is not enough to put a skip in the step of gold bugs, there is news today that the precious metal may be a cure for some forms of cancer.
Researchers have recently found gold nanospheres, combined with the right form of light, can be used to “boil” away melanoma cells. After injecting a hollow microscopic fleck of gold with a unique protein fragment, researchers have been able to use near-infrared light therapy to heat up and destroy the cancerous cells. The process is called photoablation.
According to the scientists doing the research, the process is the equivalent of putting the cancer cells in hot water and boiling them to death. So far, studies on mice have shown the technique is many times more successful than traditional treatments. With over 60,000 cases of melanoma diagnosed each year, this study is worth watching.
Even with this new use for gold, it would be irresponsible to believe it will have an impact on demand anytime soon. Gold is used throughout many industries, yet its chief demand comes from investors. That is not going to change anytime soon.
It has been that way since man first pulled the shiny metal from the ground.
Buy now, while you can
With the markets surging by more than 4% today, it is no surprise to see the price of gold taking a breather. A three-dollar drop today is not worth worrying about. In fact, we should be celebrating because the drop has not been larger. It means investors are not unloading their gold to get back in the market. This is a cash-fueled rally as sidelined investors get back in the game.
As investors return to the equities market, expect gold prices to remain fairly steady. My official forecast for the end of April is to see prices right where they are today, hovering around the $950 level. But after that, as the economy starts to show real signs of improvement, I expect a linear rise in prices as inflationary fears are realized.
That means you need to be buying gold on dips.
Market volatility remains high. The statistics show us there will be large undulations in the weeks again. Start buying gold on those dips.
If you cannot sell your holding to an investor for a profit, who knows, you may be able to mark it up and sell it to doctor.
Next Article: Pier One Imports (PIR) soars… but can it last?
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