Gold and silver are looking good with platinum and palladium following along nicely. With the Crimea crisis as a catalyst, gold has accelerated away from its steady start to 2014, while dragging silver, albeit somewhat slower, in its wake.
As all dedicated followers of precious metals are, no doubt, by now aware gold and silver have hit lows not seen since spring 2010. During these four years we have seen the effects that a series of quantitative easing policies have had on the psyche of investors and speculators of all classes, from the humble retail buyer to the powerful central bankers and their cohorts on Wall Street and further afield overseas.
As the old year fades to an end silver has regained the $20 an oz level. The question is whether this is just a last gasp effort before a further plunge to way below $18 an oz that so many of the doom monger analysts have been warning us of or is it a reawakening to those fundamentals that drove the precious metal sector to all time highs in 2011?
Striking mine workers at South Africa’s platinum mines could tempt investors to dive into the metal, expecting prices to rise as shortages kick in.
Those looking objectively at the platinum stock situation may have second thoughts before committing themselves.
If you are among the increasing many that are losing faith in fiat currencies such as the US dollar, the Euro or the GB Pound and have some cash stashed in a bank, you have to be thinking of the alternative ways of preserving your wealth.
During the last few months we have frequently urged our readers to look out for pull-backs in the gold and silver spot prices and then take the opportunity to increase their exposure to these metals with any spare cash that they may have.
Of course we appreciate that it is a rare occurrence for the ordinary ‘man in the street’ small investor to catch the bottom of a market downturn when buying but there are ways and means to avoid making a buying decision that may turn out to be an expensive error of judgement for those with limited investment funds, so leaving them short of cash when they next spot a potential winner.