Thursday, September 4, 2014

Gold Has Been Climbing the Wall of Worry

The federal government has simply made too many promises that in total cannot be fulfilled. It is for this reason that everybody should be accumulating physical gold and silver. It is to be ready for the federal government’s day of reckoning, much like the mini-reckoning that occurred in 2008. It will be different the next time, though, because there will be no one who can bail out the federal government. But let’s move away from the big picture and go back to focusing on the week ahead.

Will gold and silver drop again this week because of the economic news and FOMC announcement? We’ll see, but whatever noise impacts gold and silver this week will soon pass.

The plain fact is that gold and silver are undervalued, and consequently the tide already has turned in their favor. The uptrend in gold and silver has now been underway for 13 months. It was June 2013 when the precious metals made their low, and for months gold and silver have been climbing the proverbial ‘wall of worry’ that is the characteristic of all new bull markets.

- Source, James Turk via King World News