After the past week’s trading activity it is clear that gold and silver prices will likely remain volatile in the weeks ahead. As is tradition, silver prices will likely remain substantially more volatile than its big brother Gold. Despite such volatility, customers in the New Orleans, Jefferson, and surrounding parishes continue to sell their gold and silver scrap jewelry, platters, and silverware. Many believe that now is the time to sell their scrap gold and silver given the recent pullback off the highs of both metals. Others believe that such highs are only the middle leg of the biggest bull run in commodities throughout history. I guess we will have to just wait and see which camp of believers is right. For those who adhere to the first school of thought, you can still profit greatly by selling your scrap gold or silver today. What is usually not debated among great thinkers today is that the United States is in the middle of a crippling currency crisis–what some economists refer to as the “dollar bubble.” The U.S. dollar has become overwhelmed by an unsustainable debt that it can never repay. The massive fiscal debt facing the United States and its currency will only lead to inflation in the end. In the past year the U.S. doubled the amount of dollars in circulation. While in today’s techno-oriented world this money is all digital and has not made its way into the system yet, when it does, their will be more dollars competing with the same or less resources. This always results in more expensive commodities (food, oil, cotton, ect.). Many are fearful about the pace and velocity with which inflation will take hold, and are preparing for hyperinflation–this occurs when a currency rapidly devalues within a short period of time. For example, during hyperinflation a mother will purchase a gallon of milk at the beginning of the week for 6$; but at the end of the week the same gallon of milk costs 100$. Many look to gold’s price run from 275$ per ounce to its current highs of 1575$ per ounce as the all important canary in the mine.
Volatility with Gold and Silver Prices
By 2LM|2021-02-03T05:58:25-06:00January 19, 2021|Gold and Silver Investing, Uncategorized|0 Comments
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