Weekly Metals Wrap on KWN

Posted: September 4, 2010 in Gold, Precious Metals, Silver

Below is the Metals Weekly Wrap on King World News.  According to the interview we are beginning to see big money flow into silver.  The silver market is tiny compared to gold, with big money flowing there is a possibility we end above $20 next week.  If big money continues to flow into silver who knows where silver prices will go, I’m sticking to my target of $23 by year-end.  That could be conservative. 

People need to understand gold and silver is in a bull market.  This bull market will not end until many currencies are massively devalued or collapse.  Our financial system is in big trouble.  Nothing has been fixed, we are worse off now.  Our government postponed the inevitable while compiling massive amounts of debt.  Would you rather have your money in US Treasuries backed by our irresponsible government or something tangible like gold and silver?  The government has two options:

1. Out right default on debt

2. Create money out of thin air and pay debt with dollars worth less.  In this scenario you don’t want your money in dollars as the purchasing power of our dollar will get crushed.  You want to be in hard assets like gold and silver.

In this bull market buy a little every month, forget about pullbacks.  Budget for your monthly gold and silver purchase.  If you wait for a big pullback you may be waiting for quite sometime.  I would like to see a pullback to $17 – $18 but I sure as hell am not going to wait.  I will buy every month.  Overtime you will be happy with what you have accumulated. If you bought at $18, $19, or $20 will be irrelevant as prices are going much higher.

Weekly Metals Wrap

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