Gold and Silver – Going Up – Time to Buy More?
Friday, September 23, 2011
Why? Here are a few indications:
- Central banks around the world have become net buyers of gold for the first time in 20 years
- Greece may default on its debt which could trigger a domino effect putting Spain and Italy under pressure
- Italy just had its debt downgraded by Standard and Poor
- In October this year, Australia will open its first physical bullion exchange offering an over-the-counter spot market for gold, silver and platinum
- The International Monetary Fund lowered its global growth outlook, warning that “the global economy is in a dangerous new phase.”
So if you haven’t got your physical gold and silver, there is still time to get in. If you have already bought, consider buying more before the prices go off the charts. In fact, with the price of gold at just $1733.00 today, this is a great time to get in.
Do not borrow money to invest in gold or silver and don’t try to trade on the futures markets as it is going to be very erratic and volatile. But if you are a long-term investor, sit tight and watch your money increase in value.