By: John Fisher
You may find yourself asking, “What should I do now?”
Yesterday the market rallied significantly. On Monday, gold was trading as much as $75 an ounce above the initial lows, while at times, silver was trading as much as $2.60 an ounce above its initial lows. Why?
The Swiss voted ‘no’ to holding more gold as reserves. This should have driven gold down because the Swiss, in essence, said that gold wasn’t that important.
What about previous days? Here is some of what we have heard in the news:
- OPEC can’t agree
- The EU is in deep trouble and is in need of stimulus
- Japan doubles their monetary base
- China growth is on the wain
- ISIS is a HUGE threat, within the US as well
- Iran and Afghanistan are a total failure
- Russia sanctions are to increase
- Iran is moving on with uranium enrichment
- US is looking for Iranian “help” with terror
Long story short – avoid most, if not all of the news when it comes to prognosticating gold (and silver) pricing. Half the time the prices move opposite of the direction that would make logical sense. Right?
Here’s how you win at this game:
1. Determine how much physical metal you want to accumulate, whether it be a dollar amount, a number of ounces, or a percentage of net worth or investable net worth.
Then, purchase increments over a period of time. For instance, buy 25% of the total every 4 months, or at whatever pace you decide.
2. Finally, the strangest thing is this – I couldn’t keep silver in stock when it was $40. Now, people are afraid to buy at $16. To be successful, you need to have a counter-intuitive approach. You know that. Now you need to practice it.
All Things Considered – John’s Commentary:
As of today, I can trade 1 ounce of gold for 70 ounces of silver. This is an absolute no-brainer to double the number of ounces you hold with no out of pocket cost.
Over the years we have successfully swapped the gold:silver ratio. It is as simple as gaining 70 ounces of silver today for 1 ounce of gold. Call us to learn how it works.
