For all the short-comings of the paper prices reported by the COMEX and what resulting charts, are saying, they will be used until something better comes along. Regardless of what the charts show, one should continue to buy physical gold and silver, personally hold it, on a regular basis. Fiat currencies will continue to be debased by governments.
The speculation that’s doing the rounds is obviously more about how the rates of interest have connection to gold. Actually reports point to the fact that the lower interest rates are usually known to favor gold. However, if one goes by what the analysts have to say, then it’d be obvious that they believe more in cyclical assets and that includes equities as well. Analysts believe that it’s these equities that look more attractive at the moment.
It seems very likely that physical gold is moving from weak to strong hands which is the people who recognize the monetary value of gold and chose to physically own it. They prefer to hold their metal which they consider more important than price swings. On the other hand, the investment community is not at the point yet where they chose for the metal for its monetary protection.
Will the price of gold and silver continue to go lower. We think they will. Does that mean you should wait before buying more? That has now become a personal decision that needs to be viewed in the context of what has been expressed above, and there are so many other instances that can be cited.
On the question where gold will trade for the rest of this year, Rickards is convinced that gold will go sideways this year and that it will go up next year. He also believes inflation is coming with a lag. On the question what deflation means for gold, Rickards answers that gold traditionally performs well amid deflation, as well as inflation.
The recent crash in silver and gold was one for the record books. But, gold is not the same as Enron stock. Tangible physical metals, that have been a store of value for over 3,000 years, are not the same as a paper promise made by less than reputable individuals and organizations. In the world today, it seems there are many disreputable individuals, corporations, and governments, all pushing paper.
The gloves are off, and central bankers are on a full frontal assault against all [paper] holders of gold and silver. Ironically, that very overt assault is the biggest clue of how fearful those in power really are. Fear, a sign of weakness, and the New World Order does not want anyone snooping behind their curtain of Oz.
Price is not the ultimate issue, at this stage. Owning and having possession of the physical is what matters. Silver may be at $23, and gold at $1,400, but try buying them at those prices! Get what you can, whatever the price.
The gold price has been hit hard. With a gold price drop of 7.7% following Friday’s decline of 5.5%, it makes up for the sharpest drop since the start of the current bull market in the metals in 2001.
The point is to keep a level head in what appears to be turmoil for the real turmoil is on the other side, the opposition to PMs as a known alternative to the issue of worthless fiat. We cannot say nothing has changed, for price just got lower, but the attempt to destroy whatever opposes fiat debt is obviously a high priority for central planners, and their message is very clear: they will stop at nothing to continue their fraud. Nothing.
We have selected the most valuable thoughts that appeared today. A lot of articles and even more opinions appear on such a day but it is critical to stick to the relevant facts. Everyone who had a position in the metals should take the time to look up what caused the price drop, study the state of the fundamentals and ask what the objective was to own the metal(s) in the first place.