Gold Bug is an individual who is bullish on gold. Gold bugs believe that gold is still a stable source of wealth like it was during the years of the gold standard international currency system. A gold bug invests in gold for what he or she perceives as financial security in the event of a currency devaluation, and often also believes that the price of gold will continue to rise in the future. The term also refers to analysts who consistently recommend gold buy
Gold bugs view gold as a safe investment that will protect them from currency fluctuations or downturns in the financial markets. The market does continue to view gold as the traditional "safe harbor" during times of economic crisis.
The term was popularized in the 1896 US Presidential Election, when William McKinley supporters took to wearing gold lapel pins, gold neckties, and gold headbands in a demonstration of support for gold against the "silver menace", though the term's original use may have been in Edgar Allan Poe's 1843 story "The Gold-Bug," about a cryptographic treasure map.
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1 comment:
Gold bug it is. I think it takes a while o understand that Gold is just another metal and the growth is steady. I think it is a safe investment though. That is one bug I ain't afraid of being bitten.
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