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There are lots of reasons for owning gold and silver. The rising federal debt alone and a government that has abandoned fiscal responsibility could cause interest on the national debt to top $1 trillion in ten years.
For the 45 years that I’ve been a gold/silver dealer, I’ve never recommended numismatic or collectible coins. And, I’ve been proven right.
Some of the world’s most famous and successful investors have taken positions in gold. It pays to note what successful people do with their money. “Some regard [gold] as a metal, we regard it as a currency, and it remains our largest currency allocation… – Stanley Druckenmiller. Druckenmiller was chairman and president of Duquesne Capital,
Before he was appointed chair of the Federal Reserve, Alan Greenspan was a “goldbug.” He didn’t just believe that at times gold was a good investment. He believed that gold was the foundation of an economic system (read below).
Gold-backed ETFs and similar products added 52 tons of gold in July, in addition to the 125 tons added in June, increasing their collective holdings to 2,600 tons – a level not seen since March 2013. ETFs are preferred by many institutional and large investors, while smaller investors (and some large investors) like to buy
Record-breaking central bank and ETF buying boosted 2019’s first half demand to a three-year high, according to the World Gold Council. Also contributing to demand was a more positive environment for Indian consumers, which have always been big jewelry buyers.
By many measures, the world’s economy is slowing, and some CBs — namely New Zealand, India, Malaysia, and the Philippines — have already lowered rates. Australia lowered June 4, the largest developed country to cut rates this year. In May, China lowered reserve requirements for small- and medium-sized banks, which pushed interest rates there to
Trump is committed to tariffs. If he were levying tariffs on only China, that would be bad enough as China is one of the tech manufacturing centers of the world. But, Trump is not going after only China. He has implemented tariffs on products imported from nations that have long been friendly, such as Canada,
After having said on TV that gold is “his favorite investment” over the next 12–24 months, Paul Tudor Jones bought $82 million in gold shares, as reported by Bloomberg. Earlier in June, Jeffrey Gundlach, known as the “Bond King,” said, “I am certainly long gold.” Gundlach sees a recession on the horizon, and he expects
Herbert Hoover’s name is generally held with derision because he is blamed for the Great Depression. However, here’s one HH statement that all should agree with: “We have gold because we cannot trust governments.” Basically, a gold standard fails as a monetary system because the government is involved.
