Why it’s Still Buying Season for Gold and Silver...
If you believe gold and silver are too “expensive” to buy at these prices, then this article is for you. Even with nearly 100 years of massive dollar devaluation by the US Federal Reserve, more than 700 years of fiat currencies with multiple instances of total fiat currency collapse in China, France, Germany, Zimbabwe et al, and nearly 6,000 years of gold as a stable currency, massive misunderstandings about the price of gold and silver still amazingly exist. For example, just because gold has risen from $250 to $1,800 a troy ounce and silver from $4 to more than $40 a troy ounce within the last decade, there are still millions of people waiting on the sidelines to buy their first oz. of physical gold and physical silver because of their belief that gold and silver are “expensive.”
In early 2006, when gold was trading at $580 and silver was trading at $11, I told anyone that would listen to me that in a few years they would look back at those prices and marvel in amazement at how cheap those prices were. This despite the fact that the miseducated financial media was touting those very prices as “very expensive” back then as well. As sure as I was back then of my prediction coming true, I am equally sure today that in a few years, people will look back on the price of gold at $1,800 and silver at $40 and marvel at how cheap these prices were as well. This doesn’t necessarily mean go out and chase gold at $1,800 right now because I do believe a pullback from this level is in order very soon. However, from the very first day,due to my strong conviction in the continuing upward trend in gold and silver,would recommend buying on dips.
-Umesh Shanmugam(purely my view)
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