Week in Review and a confidence booster too!

Buy Gold Buy SilverThe last few weeks has been quite the roller coaster ride! The markets roller coaster, geopolitical roller coaster, Trump Administration roller coaster, economic roller coaster…we have been taken for a ride (rides actually) and the amusement park is no where close to closing.

In the past few weeks I have had people come in to Pacific Coin Exchange selling off some gold and silver, with the thinking that the metals will continue to slip a bit and I have plenty come in taking full advantage of the dip as a buying opportunity.

I have seen this countless times in my career, seriously, far too many times to keep track of.

The facts are easily proven, over time gold and silver have gone up and, in my opinion, will continue to do so and will do so by larger percentage jumps than we have experienced so far. I’ll stand by that for many reasons.  A few of those reasons I want to share with you now.

First, let’s look at what the markets did this week.

Gold opened the week at $1,231. We saw gold trade as high as $1,232 and as low as $1,214. Gold closed the week at and $1,228, down $3 for the week.  Gold support is approximately $1,215 then $1,190, and then $1,180. Gold’s resistance anticipated at $1,238, then $1,255, and then $1,265.

Silver opened the week at $16.28. We saw silver trade as high as $16.43 and as low as $16.02. Silver closed the week at $16.54 up $0.26 for the week.  Silver support is approximately $16.55, then $15.85, and then $15.45 with resistance around $16.75, then $17.12, and then $17.40.

The DJIA opened at 21006.03, hit a high of 210410.44, a low of 20803.59, closing at 20896.61, down 109.42 for the week.

Oil opened at $46.55, hit a high of $48.14, a low of $45.67, closing at $47.88 up $1.33 for the week.

The US Dollar opened the week at 98.66, hit a high of 99.66, a low of 98.48, closing the week at 99.05, up .39 for the week.

I am only human, or so I’m told, I too get freaked out about dips and gains in the markets.  I’m in this game all day everyday. I practice what I preach. I’d be lying if I said that I didn’t get concerned at times.  I have to remind myself of why you have insurance and to, as a mentor once told me (actually told me about 1001 times) “be right, and sit tight”.

Here’s what I look at (in more particular order – I’m just making a list):

In all recorded history, gold and silver have never been worthless, ever! Every single fiat currency has always, 100% of the time, gone to ZERO, every single one, there is a 0% success rate of fiat currencies throughout history.

It is getting more and more likely that gold will eventually return to it’s truest purpose and that is being a currency. I am not saying a gold standard. I am saying that I think, sooner than later, gold will be added in to a worldwide (or at least accepted) form of currency.

With that being said I also see that continual devaluation of the US dollar as being nothing less than inevitable.

Massive government debt worldwide, constant devaluations of currencies around the world, zero and negative interest rates around the world could very easily result a form of hyper-inflation.

Demand for physical gold by the world’s central banks is rapidly accelerating.

There is a massive over selling of paper gold.  According to the National Inflation Association the COMEX experienced a huge dip in their inventory as compared to prior to the 2008 “great recession”, to the tune of 94.2% below previous inventory levels (the COMEX is required to post these numbers).  This means that paper gold is over sold, as of fourth quarter 2016, nearly 260:1!  That means there are 260 ounces of “paper gold” sold for every physical ounce that could be delivered (not like any of it would ever be delivered, if you have paper gold you will get paper in return).

Mines in most all parts of the world are not anticipating an increase in production any time soon.

Here’s a newer one, I’ve talked about this a lot lately, if there is a war do you think our enemies will help us by continuing to use the US Dollar? Of course not. If this is the case, literally trillions of dollars could flood the US market! You want to see what inflation of the dollar and skyrocketing gold prices look like, that will be your chance!

Could you ever believe that congress will balance the budget and/or the national debt will be repaid? Ha!!

There’s more, but what more do you need?

Here’s another set of questions and comments I’ve been getting (and have gotten over the years)…”yeah, but the guy on [insert news media source here] said that gold was going to drop hundreds of dollars!”, “The Federal Reserve says that the economic outlook is up”, “the stock market is at record highs!”, “The dollar is strong, just look at the index.”, blah blah blah…

Think about it for a second, do ever see Wal-Mart, or Target advertising for Amazon? Why would a stock broker, or brokerage firm encourage physical gold purchases? Why would big Pharma provide links to studies proving beyond a shadow of a doubt the certain natural remedies are far better and have far better results than their pills?

Why would the government ever promote the safety of owning physical gold when they see it as competition?

Here’s a fun one, when one country invades another what do they confiscate? Gold! Not that countries paper currency!

Think about it.

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