Click here to get this article in PDF
Seeking Alpha/Krystof Huang/4-18-2020
“Be clear about why you buy gold. To get rich? Or to be safe? Many investment writings will conflate these issues. If profit is the primary goal–then like anything else, you must buy low, sell high. And for which, at any given time, there are likely to be a number of investments with stronger current trends than gold. Or – sometimes –perhaps the ones who are always saying ‘this is the time for gold’ are correct. But gold investing is never a sure-fire get-rich scheme. It is safety that is unique about gold. So beware of gold strategies that emphasize profit more than safety.”
USAGOLD note: Huang offers a good refresher course on how to go about gold in times of economic, social and political uncertainty. Not all the advice is sound, but most of it is. Telling investors to “never to pay much more than spot value”, for example, indicates limited knowledge as to how the physical market really works, particularly in times like these when premiums over the spot price are running at very high levels due to the mint and refinery closures, mine production stoppages, etc. Keep in mind that what you read at the link is one person’s opinion …… One thing with which we agree wholeheartedly is the snippet posted above.
Image courtesy of Visual Capitalist