Several highly respected precious metals analysts and industry insiders feel that now is the time to buy gold. With a global economy on shaky ground, recent volatility in the securities markets, and a stagnant growth rate among several developing nations, there isn’t much evidence of the type of global economic growth performance that would normally spark huge upward swings in our world economy. Though these uncertain times often create a rollercoaster effect on the major stock exchanges around the world, they also reinforce the value of one of the oldest and most reliable investment options around – gold.
Todd Horwitz, Chief Marketing Strategist and host of “The Bubba Show,” has a 35-year track record of providing insightful and informed financial advice – especially in the precious metals marketplace. He claims that ‘[T]he major U.S. banks are all drastically short on the U.S. dollar so I think that with the Fed probably not going to do anything, it’ll put pressure on the dollar, which will certainly push gold higher,’ Horwitz said. In a recent article, Horwitz goes on the claim that the price of gold could quickly reach $1,180 per ounce based on current indicators. Amazingly, as of February 22nd, 2016, gold had already surpassed that mark and hit over $1,217 per ounce.
Precious metals investors (and currency traders) often employ highly detailed charts to uncover key valuation indicators within their own investments. Respected gold investor Daryl Guppy, using his own proprietary Guppy Multiple Moving Average (GMMA) indicator, has uncovered trend points and a fan-shaped pattern in his charts that may indicate a long-term valuation reversal in the gold market. Guppy mentions that a sustained position above $1,200 per ounce may provide a solid platform for future gold price increases.
Forbes, long a respected name in investment and money management matters, released an article this month that details the market’s reaction to several key national and global economic releases. From non-farm payroll numbers to China’s economy (including the People’s Republic’s eventual self-devaluation of their own currency), the value of the dollar is quickly deflating. This is a reliable and historically-relevant indicator that gold prices will rise. Gold becomes a staunch hedge against financial insecurities across the stock market, real estate field, and other key sectors around the globe. As indicated in the Forbes article here: Add the slumping U.S. dollar index to the list of bullish elements helping to drive gold and silver prices higher recently. Silver prices also scored a 3.5-month high Thursday. Safe-haven and technical buying continue to support the yellow metal amid volatile world stock markets that presently still have a downside bias.
Global banks have bought up an incredible amount of gold over the past two years. This is an undeniable indicator that the world’s leading financial institutions see that further inflation and a possible recessionary period may naturally drive up the price of hard commodities like gold. If you’re looking for a responsible investment option that has an incredible upside potential for growth, consider a gold IRA with leading precious metals firm American Bullion. With years of experience helping clients from around the globe, we can seamlessly roll over your current investments into tangible gold. 2016 looks to be a tremendous year for gold and silver – explore your options today and protect your future with a gold IRA from American Bullion.
Although the information in this commentary has been obtained from sources believed to be reliable, American Bullion does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice. American Bullion will not be liable for any errors or omissions in this information nor for the availability of this information. All content provided on this blog is for informational purposes only and should not be used to make buy or sell decisions for any type of precious metals.