It’s happened again. Uncertainty and fear of a Euro implosion and weakness in the US stock market has sent investors scurrying to the dollar as a “safe refuge.” As a result, gold dropped from a new high of over $1240 per ounce to nearly $1170, its basic level of a few weeks ago. Do not expect it to stay there. The dollar may look strong compared to the Euro, but that is only because the Euro is so weak. In other words, investors did not scramble to the dollar out of an opportunity to profit – they scurried to the dollar out of fear of losing their principle, i.e. for safety. Where will investors go when demands of Federal and State debt, unlimited Freddie and Fannie bailout, and unfunded entitlement and pension liabilities of the Federal, State and Local governments hammer the dollar like unfunded Greek pension liabilities are now pounding the Euro? (Hint: Gold, anyone?)
If
you have not already diversified at least 10-20% of your assets into
gold and silver bullion, and/or $20 St. Gaudens in MS-65, and/or your favorite
collector coins if you are a collector, this may be
a very nice buying opportunity. Some people are saying gold will go
still lower. While possible, I do not consider that likely, as current
buyers of gold are not looking for speculative profit, but rather for
long term stability, so lower prices will likely prompt more buying
rather than a panic sell off of hard assets.
After all, while the short term is uncertain, the mid to long
term prospects for gold and silver are dramatically higher than current
levels. The same is true with collector coins, however these tend to
be longer term climbers, so if you are a non-collector and you are holding
rarities, you might want to swap your rarities for more gold-based hard
assets.
With the giant
Long Beach coin show only a couple of weeks away I’m busy preparing
inventory. I have excellent buys on MS-64 and MS-65 certified common
date silver dollars, plus a few rare date Carson City Morgans. I also have a
couple handfuls of lovely pattern coins, and smatterings of
Walking Liberty Halves, Buffalo Nickels and certified modern
commemoratives. These will go at preferred prices before I go to Long Beach, so if you have an
interest any of these, be sure to contact me right away.
As for Gold, silver, and MS-65 St. Gaudens, prices are good now and there is excellent availability, so if your time is right, call now to place your order.
And finally…please take a few moments in the day to enjoy the annual global warming and spend some time outside to breathe the fresh air and smell the flowers. That annual global warming trend we call Springtime comes but once a year, and it’s almost over.
OH OH OH OH .... SO MUCH HAPPY FOR HAVE ENDING....WAS IS SOMETHING YOU SAY.....HELP UP SO HIGH.....
Posted by: Supra Footwear | 02/23/2011 at 12:57 AM