You cannot control what others do, especially those in power. You can control what you do. Just keep buying, regardless of price, because if/when the price of gold and silver were to go lower, you may not be able to buy. If/when the price of gold and silver were to go higher, it may be at such an accelerated rate that any price in the past few years seem cheap. Words: 550
So writes Michael Noonan (http://edgetraderplus.com) in edited excerpts from his original article* entitled Gold And Silver – Are You A Lion Or A Gazelle? You Had Better Know!.
(NOTE: This post is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and the free Intelligence Report newsletter (see sample here – register here). The article may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read.
Submit your own articles & article suggestions here (earn a “Hat Tip” acknowledgement) for posting consideration. “Follow the munKNEE” daily posts via Twitter or Facebook. These paragraphs must be included in any article re-posting to avoid copyright infringement.)
Noonan goes on to say in further edited excerpts:
…The question of whether to buy gold and silver is an answer already known by almost all who read commentaries like this. Should you continue to buy more is a question, the answer to which is apparent to most. For us, it is the best way to survive what is going to be a worsening and even more brazen theft of whatever people have that is unprotected….
Will the price of gold and silver continue to go lower? We think they will. [Read: What the Charts Say About the Future Price Action of Gold & Silver]
Does that mean you should wait before buying more? That has now become a personal decision that needs to be viewed in the context of what has been expressed above, and there are so many other instances that can be cited.
There is no single answer, no right answer. However, one to be considered is the “averaging down” concept. The notion is to average the cost of ownership of something over time. Usually, buying something that is going down is not a good practice. In this instance, it is different. It is a matter of fiat fraud by central bankers and a matter of survival by those in opposition….
Our advice is to have a strategy to keep buying physical gold and silver, according to your own needs and circumstances, and be smart about it. Do not think you can outdo those who are in control, at least in the short run. Averaging down, in current circumstances, is a whole lot better than trying to pick a bottom.
As to the timing on when such a bottom may occur? It could well be years from now, and that should be a realization in your personal strategy. It could happen sooner, and most likely as a “surprise event,” where the prices of gold and silver will take off in a manner that will defy belief. It can be anything in between. Laws may be instituted making the purchase of gold and silver akin to an “act of terror” against the government. No one knows how and when events will develop, and that is the point.
There is no right answer. You cannot control what others do, especially those in power. You can control what you do. Just keep buying, regardless of price, because if/when the price of gold and silver were to go lower, you may not be able to buy. If/when the price of gold and silver were to go higher, it may be at such an accelerated rate that any price in the past few years seem cheap.
Ask yourself, how good are you at outperforming the market? Then, act accordingly. Both gold and silver are now in confirmed downtrends. It takes time to turn around a trend, and nothing will happen otherwise until we see evidence that buyers are gaining control, which certainly is not the case [at the moment].
(Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)
Going forward, if gold can break $1,478, the next level of interest is the closing price of $1,501 from April 12. If you are looking to get long gold, it would probably be best to wait until the commodity can get back above at least one of these levels before making a commitment. Read More »
We are seeing signs of a bottom…in gold…but… prudence calls for waiting for some signs of stabilization before getting long. I would rather miss the first 10-20% move than lose another 50% should I get long prematurely. [Let me show you some charts that illustrate my caution.] Words: 288; Charts: 6 Read More »
Volatility in the gold market often results in extremely bullish and bearish views. Below are 4 facts to remember about gold that should help neutralize such views and allow you to take a more balanced and thoughtful approach to the yellow metal. Read More »
The monthly silver chart does not reflect what could be viewed as ending action for the decline. If/as price rallies, it may be more of a futures selling opportunity than a sign of recovery. As the structure stands, odds favor lower price attempts. Read More »