Gold prices exploded today hitting a 12 month high in the process. Gold soared over $54 per ounce and at the day’s highs was over the $1260 per ounce mark. This highly bullish price action would seem to confirm what we have suspected for some time.
The gold train is leaving the station-and fast!
Gold prices have staged a very solid looking upside breakout in recent weeks and could potentially be headed sharply higher from current levels. Even though gold has risen by over $100 an ounce already, prices are still at relatively low levels.
Do you want to own gold at $1260 an ounce or $1500?
The choice is yours…But we suggest you don’ t take too long to make up your mind. Gold prices could potentially climb sharply higher in the days and weeks to come. Let’s not forget that a massive short position existed in gold for some time. That short position may still have some unwinding to do and this could potentially add fuel to the fire currently under gold prices.
Could this potentially be the big turnaround in gold that sees it return to all-time highs or beyond? Absolutely.
What may be driving buying in gold right now?
- Worries over China
- The real threat of deflation
- Lower equities and risk assets
- Rates remaining very low
- More QE and stimulus
- Geopolitical uncertainty
- A presidential election
- Poor global growth
You get the picture…
It seems more and more investors are now taking notice of some of the challenges ahead. The writing is on the wall. You can choose to face it or ignore it at your own peril.
The horrible start seen in equities to begin this year could be just the beginning…
Stocks could fall significantly from current levels, in fact, the SP500 has not entered bear market territory yet.
Think the broad SP500 could fall to 1600? 1500? 1400?
How about 800 on the SP?
What do you think such a move might do to your stock portfolio?
How might you feel seeing all the gains made over the last several years erased within a matter of weeks or months?
What are you going to do about it?
The recent rise in gold prices is indicative of the increasing risk aversion being seen in global markets. Some investors are trying to stay ahead of the curve-shouldn’t you?
Should equities fall further, hundreds of billions of dollars of wealth could be erased rapidly leaving investors wondering what just hit them. It didn’t take long for stocks to melt down in 2008, and such a meltdown could potentially happen even faster this time around.
And don’t fall into the trap of thinking stocks will just come roaring back again. While anything is possible, keep in mind that it took stocks years to recover those losses. Can you afford to wait several years again?
Now is the time to be looking to diversify with some asset classes that may potentially increase in value if stocks drop further. Now is the time to look at alternatives that may potentially provide comfort and peace of mind during what could be very difficult economic conditions ahead. Now may be the time to consider an asset that could be headed back to all-time highs in a resumption of its long-term uptrend.
Now is the time to consider gold…
Adding physical gold, silver or other precious metals to your portfolio has never been easier than it is today. A precious metals IRA may potentially be a great option. A gold or silver IRA enables you to acquire physical gold and silver and have it securely stored on your behalf. An IRA account may be a great way to begin acquiring these key precious metals while building and protecting your financial future. Don’t wait for stocks to fall further and gold to rise higher. Speak with an Advantage Gold account executive today. Our professionals will answer any questions you may have about buying physical gold or silver and can even assist you in setting up a precious metals IRA account. Be proactive. Call us today at 1-800-341-8584.