The past few days have been a roller coaster for both currencies and precious metals. The week started with precious metals getting a bid due to fresh European debt concerns over Italy, the world’s third-largest debt load. The past few days have seen the US dollar being dumped anew amid concerns that politicians would not get a debt deal passed by the Aug. 2 deadline.
Two years ago, I issued a free-of-charge report containing what I believed were the 5 best silver stocks in the world...
Since that time, these stocks have gained an average of 110%.
You see, despite what most people think, the best way to make a small fortune in precious metals is not through gold.
And you don't have to dig too deep to understand why. Over the past 12 months alone, gold has gone up a mere 29%. Meanwhile, silver has jumped 178%... six times better than gold.Silver was trading above $40 an ounce for the first time since early May, quoted at $40.25 Bid, $40.35 Ask, having been set at $40.33 an ounce in London. Silver has gained more than 15% in the last two weeks.
Gold broke to new all-time highs and silver overcame important technical resistance zones last week, with the iShares Silver Trust (NYSE:SLV) closing up 7% and the SPDR Gold Trust (NYSE:GLD) ending the week up 3.30%.The silver fundamentals are so great, and the silver market is so small, that at any time, the silver price can double, up from about $18-19/oz. now, to about $40/oz.
How can silver prices double at any time?
Because there are over 1000 individual billionaires in the world, and each one of them could cause silver prices to double overnight by attempting to exchange over valued assets for undervalued silver. How can any analyst predict when any one of 1000 people may decide to act? And it is impossible, IMPOSSIBLE, to tell in advance, when a single buyer will try to buy silver in such quantities and urgency that it would move up the price by up to 100% over a few days.
No comments:
Post a Comment