Here we go again.......It looks like another repeat of last year. Gold and Silver are set-up to take another beating with the Stock Market poised to yell abandon ship. Captain fiat Currency aka the Dollar appears to be at the con and at the con it is. The question one must ask is... Will it be any different this time around? The answer is an overwhelming yes! Ole Mother Hubbard went to the cupboard, but it was bare. (P.S) There's nothing left in the Comex warehouse except rat droppings. The old adage still applies. Fool me once shame on you. Fool me twice shame on me. That's why I just picked up some shiny new silver bars at rock bottom prices. Mondays are the best day to buy because they love to come into the market and just hammer prices. Thanks Mr. Market Manipulator. I got a great deal! With that said, let's take a look at the silver chart.
Short term - Silver could drop down between the 12.90 and 11.90 range. Silver has to be one of the best investments going forward at this point with the prices this artificially low.
Intermediate - Silver should reach a price target between 16-20 in the next 90 days.
Long term - Silver should outperform gold going forward at a pace of 2 to 1. Long term forecasts suggest plus 26 is easily achievable.
I get this question quite a bit - What should I buy - Gold or Silver?
A simple formula/ratio to determine which one to buy is to divide the price of
silver into gold. The current price of gold is 923 and the current price of silver
is 13.07. So divide 13.07 into 923 and you get 70. Any number above 57 you buy
Silver and any number below 57 you buy gold. Take a look at the chart below.
2 comments:
Great article. I'm just getting started in learning about Gold and Silver. When you say that you bought some new shiny silver bars, are you talking about from Kitco or a similar place. Kitco has bars of silver but they are around $15.
Almost all of my readers buy from www.apmex.com. I have no affiliation or receive no profit from them. I can buy or sell without an issue with them. Heck, I sold a large amount of gold back to them at the top of the market with no questions asked. I never had a delivery problem. My readers have ordered exceptionally large shipments and have always been
pleased with the service they received. I personally wouldn't order from anyplace else. Remember when buying precious metals. You pay spot plus premium. I paid 12.99 plus .79 per ounce at apmex.
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