Last Friday, Julian Phillips wrote the above article - something on everyone's minds, no doubt! I had to concur with the following statements he made about investing in safe haven gold at a time like this. Here's a couple excerpts:
It is very difficult to see what will happen next.
What is clear is that the ‘ripples' from this and other crises will spread far and wide, throughout the global economy and global politics.
Julian finishes with this about the ongoing gold bull market:
How will all this affect the gold and silver markets?
Do not be surprised to see major levels of speculation rise in the oil market in expectation of the worst.
In the past the gold price followed by the silver price has only been indirectly influenced by the oil price. The uncertainty that the oil situation posed to the global economy had a direct impact on the two precious metals. The recession and credit-crunch followed, pulling all markets down and causing a 20% + correction in the gold and silver prices. But this time, we would expect to see far less of a reaction in the precious metals should the worst happen. After all, the precious metal markets have continued their uptrend, despite these crises. In fact it is these crises that have prompted more accumulation of the precious metals while other markets have stalled.
This time investors have tasted the bad times before, so will not react as precipitously as they did then. We feel they will turn to precious metals quickly, from other markets. After all, the potential of these situations points to extreme times in which precious metals come into their own.
Agreed! Your uncertainty hedge? Physical gold and silver. Accumulate for your portfolio today at Lear Capital. Make us your coins dealer today!