This question has been coming up more and more lately.
Though this site is not a source of advice for anyone, rather a collection of information to aid you in your decision of investment avenues to take with precious metals.
The market speaks if you want to listen.
You can get the opinion of Debbie Carlson from Kitco news here
China has shut down 57 steel plants for 20 days, a break like this will cause a hiccup world wide. Just think of everything that is made of steel in China, and how many countries import products from them. When the production stops, everything stops. So is everyone going to be surprised again when “China slows down” and buys everything they need at the pull back prices, after the initial panic has set in. All due to their stop of steel manufacturing, which was by choice.
The Chinese have taken proactive measures with very important situations as of late. They have been successful time and again, because the majority of the population is reactive in nature. Slam the news with gold going up, and the masses react and buy gold. Slam the market with news that China is slowing down, and they back off of everything because the Chinese appetite is so large, any slowdown will effect the globe, so “they” say.
You can not forget about the proprietary trading desks of all the major players either, they will make their force be felt as well, I call it the volker factor in the current market. I’m sure a recent announcement by the LME and LBMA to create a forward gold curve to the ten year range, may be having an effect as well.
The news has been drowning the public with gold headlines for the past week, deservedly so, as it passes the $1,300 mark. But history tells, when the masses are buying, the investors are selling. The camp of “buy high, sell low” is out in full force right now, be careful of this group that reacts to mass media news they see.
Gold is safe right now, if your looking to preserve your wealth, or take a little shelter, your safe. If your looking for profits, consider selling some and keeping some if you can. From what we have seen since the inception of this site, and the reactions markets and countries have, a pull back seems likely in the very near future.
So if you missed this ride up to all time highs, don’t fret! Be prepared for a sharp pull back to enter the precious metals market. They will rise again to these levels and may surpass them. Complete the form to your right and a precious metals trader will be in touch with you to go over the investment strategy that best fits your situation.
Pigs get fed, hogs get slaughtered!