Gold & Silver Price Update – WARNING for Precious Metals Investors
Gold couldn’t break through the .382 retracement of the downtrend at ~$1380, the bear market is still valid. Next significant support is around $1170 from what I can see. If that level breaks, then it’s back to $1050, and possibly lower. A December rate hike may do just that. Not like I care though, I’m a collector, not a speculator in PMs. Cheap gold and silver is fine by me.
Silver has been money longer than gold. Gold is money and everything else is credit. As our economies continue to falter and the lies become ever more apparent gold and silver will be one of the few assets that will protect your wealth and family. Possessing physical silver and gold, in a safe place outside the banking system, will provide this safety net/insurance. ETF’s are not physical metal. There are several really great ETF silver and gold funds, however, this still places a “gate keeper” between you and your wealth. Physical silver and gold in your possession, eliminates all gate keepers between you and your wealth.