Ira Epstein covers the current state of the metal markets, highlighting significant movements in gold, which is approaching the $4,000 mark, and silver, which has surpassed $47.
The relentless erosion of U.S. dollar purchasing power, combined with the debt crisis and volatility in traditional assets, makes gold an indispensable safe haven for investors.
A slowing global economy also adds to gold’s attractiveness as a safe haven. And it may be the safe haven of last resort because Bitcoin took a hit this past week.
Too, with the FinMedia having of late actually giving notice to Gold, precious metals reports these days are richly ripe with hype. Moreover, recall what happened the last time Gold graphically caught up to its Dollar debasement value...
We have updated our long-term count, starting form the low of 35.20 made back in 1970. Gold is general moving in a multi-decade incomplete impulsive fashion.
Despite the high chances of an imminent gold-stock selloff, miners’ fantastic fundamentals support bigger gains to come. Any gold-stock selloff is a good mid-bull buying opportunity.
Ira Epstein discusses the current state of the metals market, highlighting concerns about gold's loss of upside momentum despite a recent price increase.
