My customers frequently ask me, "Are the prices of gold and silver going to go up or down?" And I reply, "If i knew, I would not be here in the coin shop. I would be on an island with a drink in one hand and my cell phone to my broker in the other hand."
Well folks, it's pretty obvious that the bull market is over - at least for now. Since the last quarter of 2012, there has been a stampede of heavy hitters and mutual funds exiting the precious metals. The deterioration in price appears to be accelerating without a floor in sight. The U.S. dollar has gained strength, and the U.S. stock market keeps going up notwithstanding the concern that the market is overpriced. So, in response to my customers' inquiries, I now suggest, "Don't buck the trend." I believe that the precious metals will rebound some time in the future. Unfortunately, last time, the rebound took about 25 years. We will see as history tells us that all markets can change "on a dime."
Well folks, it's pretty obvious that the bull market is over - at least for now. Since the last quarter of 2012, there has been a stampede of heavy hitters and mutual funds exiting the precious metals. The deterioration in price appears to be accelerating without a floor in sight. The U.S. dollar has gained strength, and the U.S. stock market keeps going up notwithstanding the concern that the market is overpriced. So, in response to my customers' inquiries, I now suggest, "Don't buck the trend." I believe that the precious metals will rebound some time in the future. Unfortunately, last time, the rebound took about 25 years. We will see as history tells us that all markets can change "on a dime."
RSS Feed
