The Mainstream Is Jumping on the Gold Bandwagon
The Mainstream Is Jumping on the Gold Bandwagon from Schiff Gold
One thing about the mainstream media – it almost always reacts. It rarely anticipates. This is pretty indicative of the general public. People see a bandwagon rolling by, and they want to jump on.
Earlier this week, gold finally broke through the $1,300 barrier and held that position. Safe-haven buying has been key in pushing gold higher, but there are other factors driving the bulls as well, including a weak dollar and a growing sense that the Fed is going to back off interest rate hikes.
Of course, gold has been doing well for months. People just haven’t been paying attention. Gold has outperformed the S&P 500 so far this year, yet the stock market has gotten all the press. But with gold finally trading above that key $1,300 level, the spotlight has finally swiveled to the glittering yellow metal. The bandwagon is rolling, and everyday folks are grabbing on to take a little ride.
An article on Yahoo Finance is indicative of the sudden interest in gold. The headline says it all: I invested in gold for the first time. Here’s how.
Jen Rogers wrote the piece. She explains how she bought gold for the first time. Not a gold ETF. Not a gold miner stock. Jen invested in actual, physical gold.
I had a limited budget, but wanted it as a diversification and a small hedge against the coming zombie apocalypse or market crash, take your pick.”
Jen picked a good person to help her with her gold-buying decision. She called up Jim Rickards. He recommended that Jen buy American Gold Eagles.
He likes Eagles because they come directly from the US Mint, so there is good quality control and they are sold at a nice price point at just over $1,200 versus around $45,000 for a 1-kilo bar. Plus, Rickards notes they are ‘easier to spend or negotiate in a monetary crisis or social unrest emergency.’ I was convinced.”
Rickards gave Jen another important piece of advice. You don’t want to buy your American Gold Eagles directly from the mint. If you do, you’ll pay a premium because the mint caters to collectors. If you want a nice box, or a proof set of coins, call the mint. If you’re just interested in the value of the metal, you want to buy through a reputable dealer.
Jen leaves us with a final bit of advice she gleaned from her research.
If you are looking to buy gold as an investment, stay away from numismatic, rare collector coins which cost more than the value of the underlying metal — and also steer clear of collector sets sold on late night TV. Remember, you’re an investor, not a collector.”
Jen jumped on the gold bandwagon and she offers some pretty good insights for other newbies who might be thinking about gold.
With gold over $1,300, the bandwagon seems to be picking up speed. But as Peter Scfhiff said in his most recent Gold Videocast, it’s not too late. $1,310 is still a low price for gold relative to where it’s going.
For a limited time and while supplies last, SchiffGold is offering American Gold Eagles for as little as 3.25% above the spot price for gold. This is a tremendous opportunity to get into gold before the price surges any higher. The beautiful American Gold Eagle is an official gold bullion coin of the United States and is recognized around the world. Minted from durable 22-karat gold, the American Eagle’s weight and content are guaranteed by the US government. Get more information on this special, limited-time offer.