by Michael Noonan, Gold Silver Worlds:
Charts do not lie. There are a slew of highly respected PMs “gurus” with extensive followings. None we know of have been on target in the past year. Not only are the trends still down, prices made new recent lows, again, within the trading range, but nowhere near the “prices will reach levels you cannot believe” area. [Insert your own expectation/belief]
We have been advocating the purchase of physical gold and silver, consistently and at any price. The point is not to “make money,” but to preserve and/or create wealth.
The purpose in buying, and personally holding, physical PMs is viewed much like that of essential needs, like shelter, as an example. You buy a house to satisfy a need for shelter. Timing is not the most critical factor because it is the security and comfort of ownership that matters most. Once that need is taken care of, it becomes less important if the value declines because it is a necessity, not something that is traded like baseball cards.
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