Signs of topping, everywhere… by Harry Dent via Harry S. Dent Jr. Something BIG is brewing
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Make no mistake, this is being done on purpose to further destroy the purchasing ability of as many people as possible… by Mac Slavo of SHTFplan The rising costs of […]
The post INFLATION TRIGGERED: HIGHER GAS & FOOD PRICES AS SUPPLY CHAINS BREAK appeared first on Silver Doctors.
Society may have the best interests of tenants or employees, in mind, yet many public policies are incompatible with commonsense understanding… by Walter Block via Mises Demand curves slope in […]
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Engagement Ring Upgrades seem to be our theme of the week. This week for JOTW (Jewel Of The Week) we are celebrating PS Member Doberman‘s upgrade. Doberman shared this jaw-dropping True Hearts Brilliant Round Cut engagement ring upgrade from James Allen on the Show Me the Bling! forum and we are here for it! […]
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You’ve likely heard that gold prices are climbing and silver prices are keeping pace with gold. The price of gold has held above the $1,800/oz. mark, and the price of silver rose to its highest level in nearly three years on Monday, July 13, 2020.
Does this mean you’re missing out on a potential opportunity to grow your own wealth? You might be, especially if you haven’t established a personal precious metals portfolio. The good news is that you can get started today. We’ll show you how.
If you’re new to precious metals, your best bet is to educate yourself about them. Even if you do own precious metals, it never hurts to brush up on your knowledge.
Here are four of the things you’ll want to familiarize yourself with:
Even if you’re familiar with precious metals, it’s smart to seek out someone who is more experienced before you make a buying decision. This person could be a trusted relative, a financial adviser, or a representative of U.S. Money Reserve. The best choices when buying precious metals are informed choices. You want to arm yourself with the best knowledge you can before pulling the trigger on a purchase.
U.S. Money Reserve’s Gold Information Kit is free and available to anyone. Request yours today and start building your portfolio from the ground up.
Once you’ve educated yourself and consulted with a knowledgeable source, it’s time to select your precious metal products. If you’re new to precious metals, you might want to start with a 1/10-oz. gold or silver coin. This way, you can get a sense of what the buying process is like.
Once you’ve gotten your footing, consider graduating to precious metals that weigh more and different types of precious metals products, like graded and certified coins. Also, consider diversifying your portfolio with a variety of precious metals.
If you prefer not to hold physical precious metals in your home, then you might explore a financial product such as a Precious Metals IRA. This type of savings vehicle lets you own precious metals without actually having them in your possession. However, you still can enjoy the safe-haven, inflation-fighting benefits of precious metals.
How much of your portfolio should be in precious metals? To maintain a well-rounded portfolio, experts recommend allocating roughly 5 to 25% of your portfolio toward precious metals.
“Silver and gold belong in every balanced portfolio. There’s no magic percentage of silver and gold you should include,” GuruFocus.com advises. “Adjust your position in silver and gold according to your goals, your age, and the size of your savings.”
When you own physical precious metals like gold and silver, you want to make sure they’re kept in a safe place. In other words, stashing gold coins under your mattress probably isn’t the best move. Instead, look into storing your precious metals in a safe deposit box, an at-home safe, or a designated depository (also called a storage vault).
Be sure to check insurance coverage for your precious metals before selecting where they’re stored. Your homeowners insurance policy may not cover precious metals or may only cover a portion of their value.
Once you’ve purchased precious metals in some form or another, you’ll want to keep on top of market conditions so you can make further purchases at the right time. To stay informed, sign up for email alerts from U.S. Money Reserve and track U.S. Money Reserve’s price charts. These five tools that can also help you track gold prices. Each one provides a useful way to watch gold’s market moves more closely.
The post 5 Easy Steps to Start Building a Precious Metals Portfolio appeared first on U.S. Money Reserve.
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Wise investing starts with watching for price fluctuations in the precious metals market. Spot buying opportunities in our weekly metals market recaps. Get the spot price close; one-week price change; and year-to-date price change of gold, silver, platinum, and palladium for the week of July 10 – July 17, 2020 below. |
| Gold Spot Price Close: | $1,810.21 | |
| 1 Week Price Change: | ▲ $11.00 | ▲ 0.61% |
| 1 Year Price Change: | ▲ $385.35 | ▲ 27.04% |
| Silver Spot Price Close: | $19.36 | |
| 1 Week Price Change: | ▲ $0.64 | ▲ 3.44% |
| 1 Year Price Change: | ▲ $3.42 | ▲ 21.47% |
| Platinum Spot Price Close: | $840.25 | |
| 1 Week Price Change: | ▲ $13.25 | ▲ 1.60% |
| 1 Year Price Change: | ▼ -$5.25 | ▼ -0.62% |
| Palladium Spot Price Close: | $2,021.56 | |
| 1 Week Price Change: | ▲ $48.28 | ▲ 2.45% |
| 1 Year Price Change: | ▲ $484.56 | ▲ 31.53% |
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Yes, silver is a good investment now and will likely continue to be in 2021. All eyes are on gold, up almost 20% since the start of 2020 (as of 7/15/2020), but many experts think silver may prove to be the better buy in the medium- to long-term, with murmurs of silver outperforming gold growing louder after the white metal hit nearly $19.50 an oz on July 15, 2020.[1],[2],[3]
How high could the price of silver go? Remember 2010? When silver prices jumped from $17 to $50 an ounce in just nine months? It could happen again. Within the next 3 years, say analysts. That would make Right Now the time to invest in silver.[4]
See why the next silver bull market could be building in this article.
Expert predictions for when silver prices could hit $50 an ounce vary from 2023 to 2028, but the consensus is prices will keep moving higher and higher, making now the time to buy silver.[5],[6]
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Back in January 2020—before the pandemic shut down precious metals mines—Scotiabank analysts thought “the global supply of silver is ‘fundamentally oversupplied.’”[7] Still, they foresaw investor demand for a currency hedge driving gold and silver buying, estimating silver prices to rise as high as $23 an ounce in 2020.[8]
Using mathematical and statistical methods of prediction based on existing historical data, the independent Economy Forecast Agency predicts the price of silver to close at $18.47 in 2020 and $19.41 in 2021.[9],[10]
Experts at financial forecasting firm, InvestingHaven, expect 2020 to be “mildly bullish” for silver, with prices reaching $22 an ounce. By 2021, they think silver prices will turn “wildly bullish,” breaking out to $28 an ounce. Factors influencing their silver price outlook include a soft dollar, rising inflation, and strong gold prices.[11]
See more forecasts for this year in our “Silver Price Forecast 2020.”
Gold needed a black swan event to launch the next bull market. Everything has come together now…– Thomas Puppendahl, founder of Chancery Asset Management
Predicting the central banks’ out-of-control money printing and governments’ stimulus packages to trigger inflation, Puppendahl announced the ‘most violent’ bull market is here, and it will send gold prices to $5,000 an ounce and silver prices to $50 an ounce in the next three years.[12]
‘Once bullish, extremely bullish,’ is what characterizes silver.– InvestingHaven analysts
Citing its analysis of the longest silver price chart (50 years), InvestingHaven analysts indicated the bottom pattern forming for silver prices from 2011 to present is a minified version of the pattern representing silver prices from 1979 to 2011. Based on this chart analysis, they predict silver will reach $50 an ounce in 8 years.[13]
Longest Silver Price Chart
Chart image source: investinghaven.com
We’re consuming…over 1 billion ounces of silver annually, and miners are only producing about 800 million ounces a year, and that’s been dropping for three consecutive years.– Keith Neumeyer, CEO of First Majestic Silver
Neumeyer has long held that $130 per ounce is a realistic prediction for future silver prices. In fact, he’s gone so far as to predict future prices near $1,000 per ounce.[14]
What’s behind the recent spike in the price of silver and robust silver price predictions? Several factors influence silver prices.
Let’s examine how they’re playing out right now.
It’s harder to bring mining production back quickly than it is to bring demand back.– Rohan Reddy, research analyst at Global X
Declines in mining have reduced silver supply in the face of rising demand since 2016. Prior to the pandemic, experts predicted silver mining to start increasing in 2020.[15] However, precious metals mining ground to a halt during the shutdown, taking two-thirds of global silver output offline.[16]
As the global community grapples with the chaos and uncertainty of the pandemic, investors are turning to the safety of gold and silver.
Below are some of the major financial, economic, and political problems driving demand for precious metals.
Stock market volatility has plagued Wall Street in 2020. COVID-19 dealt the first blow in March, shutting down the economy and putting tens of millions of Americans out of work.
Massive fiscal and Fed stimulus fueled a rebound, but then the Dow plunged 1,800 points on June 11 on fears a second wave of the virus would close the country again.[17] Those fears weren’t unwarranted, as several sunbelt states shut down their economies again due to spikes in cases.
With the presidential election in November, the road ahead for equities continues to look rocky.[18]
Stock Market Volatility in 2020
2020 YTD Silver & Gold vs. Stocks
So far this year, gold and silver have outperformed the Dow and S&P. Investors often buy gold and silver to hedge against volatility and uncertainty in the equities markets.
| Asset | Year-to-Date Performance (7/3/20) |
|---|---|
| S&P 500 Index | -3.12%[19] |
| NASDAQ | 13.76[20] |
| Dow | -9.50%[21] |
| Gold | 17.61%[22] |
| Silver | 1.87%[23] |
The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit… The dollar is going to fall very, very sharply.– Stephen Roach, former Morgan Stanley Asia chairman on CNBC’s “Trading Nation”
How far could the dollar drop? Roach forecasts a 35% plummet against other major currencies.
How soon? Within the next year or two, he predicts, adding that the dollar crash is “virtually inevitable.”
It’s not a risk investors should shrug off, either, warns Roach. Why? Because inflation could soar as we import foreign goods with a weaker dollar. Interest rates are already at zero, limiting the Fed’s ability to lower inflation with cuts—unless it resorts to negative rates.
Remember the stagflation crisis of the late 1970s? It could happen all over again, says Roach.[24]
Gold and silver are an excellent hedge against inflation because, unlike fiat currencies, they’ve maintained their value for centuries. In fact, prices for precious metals tend to rise during times of economic turmoil, as we’ve seen during the current coronavirus recession.
Examining the factors that can influence the price of silver suggests the precious metal may, at this point, be undervalued because of weak industrial demand due to the economic downturn. Industry and technology typically account for more than half of annual demand for silver.[25],[26]
Those who get in now are likely to see a good return on their investment in the coming months and years as the economy recovers, especially given the positive price forecasts for the metal.
In the near-term, diversifying your portfolio with gold and silver can help protect it from stock market volatility and the threats of a weakening dollar, inflation, and, as some experts predict, even stagflation.
Ready to invest in silver but not sure how to get started? This FREE guide to investing in precious metals can help.
Kitco News
(Kitco News) – The company said it launched a board-led review of our heritage management processes within its iron ore division to be completed by October 2020.
The post Rio Tinto’s capital expenditure jumps appeared first on WorldSilverNews.
Kitco News
(Kitco News) – As gold prices firm above $1,800 an ounce, there seems to be a growing number of concerns around sourcing gold responsibly.
The post More conflict gold concerns raised, LBMA responds appeared first on WorldSilverNews.
“”silver price”” – Google News
Week in Review: July 2020 MMI report; silver prices; LME off-warrant stock – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting MetalMiner
The post Week in Review: July 2020 MMI report; silver prices; LME off-warrant stock – Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting – MetalMiner appeared first on WorldSilverNews.