A quick look at Gold & Silver prices from the start of 2012 to date ... after gold rose 3.1% in August and silver gained 9.5%
I said in one of my first posts in June this year that I was pleased that precious metals had not roared away leaving Guernsey Mint Refined to turn up red-faced, bottle of bubbly in hand, to the party just as it had finished.
The past few weeks has seen a rally in gold and silver which makes sense to me and has been suppoprted by, it seems, a market driven by the various thoughts I have tried to comment on or round up in previous posts.
I have recently been asked, many times, by clients and prospective clients if I think they have missed the opportunity to invest - now that gold and silver have 'run away' - a question impossible to answer given a multitude of factors, of which two spring immediately to mind now:
1. I do not, but would love to, own a crystal ball;
2. I cannot give financial advice, particularly over this medium, to all who are reading.
That said, when I wrote in June - noting that gold was flat for the year and silver was down 5% - I said I had been having nightmares that fiat currencies would already have weakened or imploded and that markets would have sold off aggressively (I mentioned equities - my present fear is for bonds, as it happens!) taking precious metals to levels which most investors would find difficult to stomach.
Well .... does the below look like an 'overstretched' market to you? Have the prices of these two metals 'run away' to the extent you think that it is worth seeking investment opportunity elsewhere?
So ... do you think you've 'missed it?' ... I'll leave it with you ... and my number is 01481 706767
Gold and Silver PM Fix prices rebased to 100 as at the first trading day of 2012, January 3. LBMA statistics.
Sunday September 2, 2012 by