It will probably take some time for gold (and silver) to bounce back from last week’s serious set back. That said the fundamental reasons behind gold’s ascent in recent years have not changed. Developed world countries are continuing to live beyond their means – something reflected in stubbornly high trade and government deficits. Asian central banks and private savers remain determined gold buyers. Confidence in major financial institutions remains ephemeral and eggshell thin.
Which suggests the selling was overdone. Gold and silver will recover.
Read the complete article at GoldMoney here.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.