Buy gold - not buy-to-let

Whilst property is on the verge of tipping over into the 'capitulation' stage of its bull market, gold and silver stocks look like much better long-term prospects - though be sure to play the current correction properly.

Some of you may have seen Tom Fischer of Herriott Watt University's excellent charts measuring UK house prices in ounces of gold in last week's MoneyWeek. Tom is a (renting) German mathematician lecturing up in Edinburgh. Our national obsession with house prices and indeed the house prices themselves have both stunned and mystified him.

Below is an updated version of one of Tom's charts. Underneath it is a wonderful chart from Jean-Paul Rodrigue, PhD, from the Department of Economics and Geography at Hofstra University, New York. I urge you to spend a moment or three studying it. It displays the course of a typical bull market from take-off to landing.

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