Bill Murphy of Lemetropole Cafe and GATA.org, comments on gold, still holding over $2,000 for two months and the amazing prospects for silver. The former NFL player trains with an owner of the KS Chiefs, squaring off in this year's Superbowl!
- Increasing uncertainty in the financial arena.
- Gold and related investments remain the de facto safe-haven asset to ameliorate portfolio volatility.
- The general consensus of many senior members of the gold crowd members suggests a buying opportunity may be unfolding in the PMs shares on a valuation basis.
- Technical outlook for silver is stunning - once $30 is cleared, $50-$75 become logical and pragmatic targets.
"Well, what I know is that you've got gold, and because of the Asian central banks, has kept it, held its own, and it tries to move up. Every time and tries to break away from $2000, the gold cartel goes after it like yesterday, takes it back down because it goes back up again. It's been acting incredibly well and it's not too far from going quite nuts.
Silver is the opposite because of JP Morgan, which I keep talking about because of what they've done to it and investors – like in the shares – have left because there's been... I mean how much can people take and do I think what you're talking about is correct? Yes, in which, it's all going to take off but $44.91 might be okay."
- The weekly chart of silver shares striking parallels with the chart of 2010, just before the price tripled!
- Such a move would launch silver over $70 if it were to happen today.
- The US strategic stockpile of 3 billion silver ounces is gone - what would happen to the price, if even one company like Tesla or small nation, decided to build a similar stockpile, not to mention, BRICS, the US or NATO. Hint, triple digits.
- Is the astounding financial panic of 1970s, leading to the gold/silver bonanza a lesson lost to history, for most investors.
- Higher rates, lower rates, either way, gold and silver could benefit in this atypical economic environment.
- Are investors building financial portfolios without a PMs backup parachute?
- Might the next stage of the gold bull market surprise even the bulls with upward momentum?
Bill Murphy's site.
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About the author
Chris Waltzek is host, executive producer, writer/editor, best-selling author, webmaster, sound engineer and computer guru at Goldseek.com Radio. He earned his bachelors degree in Business Economics and holds a dual MBA in Business Economics & Information Systems. Upon graduation he worked as the firm-wide Industry Analyst at one of the nations largest law firms, Jones, Day, Reavis, Pogue. Chris is currently a Ph.D. student in Management / Finance at NCU.
