That’s an awful lot of cash for such a tiny amount of a substance with very limited practical uses. At least silver has many industrial uses in addition to jewelry. I think it’s too risky to buy into gold now. Nearly $2,000 for a tiny coin that could plummet in value at any time? No thanks.
There will probably be a correction of sorts on gold in the near future thats for sure. I will possibly be looking to short in the near future. Same with silver, when the economies fix themselves and there is a renewed confidence in the market, these commodities will come crashing down the same way they did in the early 80s.
The same was said @ $350 an ounce......back in 2001. Yes, it will drop eventually. I witnessed the 1980 gold opportunity from the sidelines....
This rush is different. Bad news fuels the rise in price and bad news stretches as far into the future as I can see....local, state, national and world wide.
That’s an awful lot of cash for such a tiny amount of a substance with very limited practical uses.
I’d buy silver (up 10% in the last few days) or platinum (little more per ounce than gold, an unusual near-parity).
We might see a temporary correction in gold to $1600 or so, but ending the year at $2000 seems likely.