Author Archive: GoldSilverWorlds
While the weekly and monthly charts are negative, Gold and Silver can be viewed from an ever larger historical perspective. Keep in mind, many a trader has gone broke with the correct longest-term historical perspectives. Historical perspectives are good for understanding, but not for timing investing and trading. I actually believe in the long-term prospects for Gold. I think prudent people should be accumulating physical Gold during this bear market and sticking it in their safety-deposit boxes. As for Silver … no interest.
Investors should consider gold and gold exposure as an alternative asset class and as part of an overall portfolio. I would recommend that investors average their investment over time instead of buying all at once. The gold price is volatile and it’s very difficult to get the low points. Averaging over time when the price dips can help financially and mentally even out the ups and downs. Consider gold as a very long-term investment, not just a two- or three-year investment.
What a month for the precious metals and miners. Usually, as proven on the chart in this article, June has been seasonally the weakest month of the year. Not so in 2014. The first days of the month appeared the start of a new break down. Both Gold & Silver broke to new lows at the critical point of the wedge recently. It was nothing less than a false breakdown. The key things to watch to get a confirmation of the breakout are volume and price .
24k gold is 99.99% pure, and the coins made from it weigh precisely 1 troy ounce. 22k gold is approximately 91.67% pure, with the remainder composed of other precious or semi-precious metals. Sometimes the choice between 22k and 24k simply comes down to the aesthetics of the product itself, as each of the popular coins has its own unique look and feel.
Rogers believes that gold is probably going to fluctuate for another year or two before making its final bottom. Although he “got it right” that gold went to $1,200 (where we also bought some) he does not believe this is the final bottom. The anomaly with gold is that it went up for 12 years in a row.
Gold was pummelled overnight in Asia when a very large sell trade just after the market opened led to further selling throughout the session and this weakness continued in London this morning. Gold is now at its lowest level in 3 years. Somewhat positive U.S. economic data has again lifted stock markets and speculation that the Fed may decrease its QE over the next few months may be pressuring gold. However, these factors do not justify the scale of gold’s fall.
The point is very simple: US Silver Eagles are in very high demand, whether looking at yearly of half yearly sales figures, or comparing it with the Gold Eagle sales. The most plausible explanation for this trend is that people (retail investors) realize the dangers and severity of this crisis, and seek some form of “safety”. Silver being “poor man’s gold” is more affordable to the retail public.
$16 trillion. $16,015,769,788,215.80 to be exact. That’s the amount that the US government’s national debt stood at as of last Friday, as it crossed into the $16 trillion-mark for the first time ever. ZeroHedge points out that this amounts to 102% of US GDP – up from just 76.5% when President Obama took office in January 2009. A collapse in federal tax revenue is of course the standout reason for this surge in debt (Washington’s spending has increased modestly in comparison with previous decades, and looks no different from increases seen during Bush junior’s years in the White House). Regardless of the reason, it spells trouble for the USA, and this is […]