Will they taper won’t they taper? That is the question. Meanwhile gold, together with silverand the PGMs suffer whichever way the wind blows. The analysts employed by the big banks are calling for a fall at anywhere between $1200 and $1000 an oz. over the next few months. Another doomsday prediction is that the Chinese […]
On Monday, early morning Asian trading saw gold reach a smidgen off $1350 an oz., the highest level since end October 2013. Fridays’ release of data from the Commodities Futures Trading Commission saw net longs at 113,911 contracts, up 20% from the previous week indicating that the recent increase in bullish sentiment is becoming sustained.
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.
Will they taper won’t they taper? That is the question. Meanwhile gold, together with silverand the PGMs suffer whichever way the wind blows.
The analysts employed by the big banks are calling for a fall at anywhere between $1200 and $1000 an oz. over the next few months. Another doomsday prediction is that the Chinese are not buying at the rate they were the last time gold slipped down to the $1260/$1280 range. Never mind that they are now overtaking India as the worlds largest buyers and are set to better last years purchases makes no impact. Right now there is the prospect that gold will fall flat on its face.
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.