It’s Now a Stampede, Into Precious Metals!

Physical buyers of gold and silver over the past two weeks have been aggressively accumulating their purchases in greater amounts. However with last Friday’s sudden price drop in, both metals, physical buyers rushed into additional positions, creating a “panic buying frenzy”.

A lot of money had been sitting on the sidelines waiting to buy on dips, as trust in the dollar fades, people are now looking at hard assets for protection. They now want out of dollars altogether. Many new investors are also entering into the physical market. A large number of investors already with long positions have been seen taking advantage of this most recent drop in gold and silver’s price, to add to their physical positions.

Investors world-wide are showing signs of worry, and for good reason. As fiscal conditions in all Western nations continues to worsen. As time moves further along, the problems of western nations will only multiply in size. Increasingly, people will continue observing events that later will lead to the global financial systems demise. Additional future events will take place that would otherwise, be unimaginable today. Bottom-line, if you’re not already taking the necessary steps to prepare and protect yourself and your assets today, then it’s time to get started now, as time is running out.

The sudden and large price drop Friday was due to the deceptive employment statics that the US government released, boosting the current administrations performance ratings just in time before the Nov 6th elections. According to John Williams of ShadowStats.com these employment numbers are not true. He claims a broken reporting system, flat-out manipulation or both being behind these numbers. John’s argument shows actual job gains for October to be 117,000, not the reported government figures of 177,000 new jobs.

In this environment investing into physical gold and silver is the best way to protect your personal assets. While key central banks of the world continue money printing, adding to their currency supplies while creating inflation through currency de-basement. It’s a race to the bottom for all fiat currencies.

Michael Maloney – Sub $31.00 Silver, At Or Near Its End!

Michael Maloney’s “Action Alert” on Friday Nov 2. With gold & silver suddenly down $40.00 & $1.40 respectively Mike says he’s going all-in on another major silver purchase. Friday’s low of $ 30.81 in silver has most likely reached bottom. Michael concluded this after doing a thorough technical analysis on the gold and silver charts following a long forming pendant trend lines on both charts.

With a closer look at silver’s chart and by adding in a Fibonacci analysis, Michael focused on the last 6 months of price action. At this point other key trend lines were intersecting showing the expected price drop below $31.00 near approaching; with a very slight chance it could drop as low as $30.00. However at that price, any buying action would be very short lived.

Michael is now concentrating his precious metal purchases towards silver, as he has felt his own personal positions in gold were now top heavy. Michael stated: “This could be the optimum spot to make purchases on sub $31 dollar silver. Come Monday morning, it’s highly likely once you wake up the opportunity to buy silver at this price, could be gone forever”.

As Always…
I would like to remind everyone if you normally purchase physical gold and silver on a regular basis to continue on that path. Should next week be the time you would normally buy, then do so. Never try to time the markets. At the end of the day, dollar cost averaging will end up costing you less. Stay out of all paper related gold and silver investments with the exception of quality mining shares if you have risk tolerance.

Those investors interested in mining shares look towards quality Jr. Mining Companies to invest into. While there are inherently several risks involved when owning mining shares, the potential for increased returns could be from 3 to 10 times your investment over physical gold and silver. The key is selecting the correct companies to invest in. Your due diligence is required for researching and selecting quality Jr. Mining Companies prior to making any purchases.

Remember that all of us holding positions in physicals, mining shares or both must be resolute in our decisions to hold fast. Don’t give way to the temptation to liquidate. Weak hands will be shaken out, especially those who don’t have the stomach to ride out the entire bull market. During these times; patience, courage and conviction will prevail.

Tom Genot –
 

Photo Credits: Val marie stampede By Ron Miksha (Own work) [Public domain], via Wikimedia Commons”/>