From 1999 – 2002, then Chancellor Gordon Brown infamously sold half of England’s gold reserves at the lowest gold prices since the dollar was de-pegged from gold in the early 1970’s.  Now colloquially known as the ‘Brown Bottom’, it marked a seminal shift in the gold market.  By the time the second edition of the ABC’s of Gold Investing was published in 2004, gold had posted substantial gains of nearly 20% in both 2002 and 2003.   A fledgling bull market had begun.  The tech bubble had burst, and with it, the broader stock market also entered its own bear market in 2001.  Alan Greenspan ushered in a new age in Central Banking, using interest rate adjustments to jump start the flailing American economy.  While successful in part, his policies also fueled an unprecedented housing bubble, the collapse of which precipitated the Financial Crisis of 2008/9.  Gold entered a sustained bull market that saw it not only eclipse the previous highs achieved in 1980, but ultimately come just shy of of the psychological $2000/ounce level at it’s peak in 2011.  And in the process, gold once again became a fixture in the portfolios of American investors.  The ABC’s of Gold Investing remained an instrumental an instructional tool in what was arguably the most economically turbulent decade in a generation – a decade which saw gold increase an astonishing 780% from it’s low in 2001 to it’s peak in 2011.

From the introduction of the second edition, insight into Michael J. Kosares’ thoughts in 2004:
“In addition to gold’s bedrock role in the financial portfolio as the ultimate fiduciary asset, many investors have begun to view gold as an architect of wealth.  Almost on cue, the long dormant price has begun to rise in international markets with the metal logging price increases of over 20 percent in both 2002 and 2003.  Many market experts see this as the opening salvo ushering in a new secular bull market in gold – one in which emerging market fundamentals, combined with concerns about the overall economy and financial markets, could potentially drive gold prices to levels we have not seen since the late 1970’s”

We have a limited number of copies of the second edition of the ABC’s of Gold Investing available for anyone who may be interested in procuring a copy.  Simply pay the cost of shipping ($10), and we’ll send you a copy otherwise free of charge.