Tuesday, May 28, 2013

Gold and Silver Should be Accumulated

"My recommendation for gold and silver remains unchanged. They should continue to be accumulated. View them as your savings, which everyone needs whether planning for retirement, purchasing some consumer good or just being prudent for a “rainy day”. It does not make sense to save national currency because the interest income they offer is insufficient to offset the risks of holding these currencies. These risks are real and threatening because countries around the globe are going through another of the recurring financial busts that periodically convulse national currencies, banks and more generally, the economy.

We can expect more turmoil given that the interrelated sovereign debt and bank insolvency problems have not been resolved. Until they are, I therefore will continue to rely on physical gold and silver for safety. They are the ultimate safe-haven and therefore an important diversifier in everyone’s portfolio."

- James Turk via a GoldMoney article, read the full article here: