Where to for gold and silver?
News
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Posted 25/07/2014
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3851
The main stream press are presenting 2 very different stories yesterday and today. One is that gold will fall further as demand in China has come off 19% and the US is on the road to recovery, and ‘supported’ by Goldman Sachs calling for US$1050 by the end of the year (you know, the same Goldman Sachs that talked it down last year whilst buying up long on the other side). Anyone who reads our articles and listens to our weekly wraps must surely be questioning the US recovery and Chinese demand figures.
But to be honest we don’t have the track record of calling markets that the infamous Levy’s do. Other articles are running the Levy’s call for an imminent US recession. The Levy’s of the Levy Forecast have an enviable track record having accurately predicted the 1929 great depression timing, decades of turns in the business cycle since (often against ‘conventional’ thinking), and more recently the 2000 dot com crash and GFC crash, with the latter even spelling out the Fed’s response to it which has played out accurately.
Interestingly Levy predicts the crash will come from outside economic forces not necessarily from within the US. Which is right? We don’t know and you don’t know and that is why balancing your wealth is so critical as the world navigates unchartered economic territory. Gold and silver are perfect hedges against the last story and are ‘on sale’ because of the first story. It’s a win win.