The government is printing money so fast that even cash isn’t a safe bet any more, says Daniel Zurbrügg. And even though gold has slumped during this crisis, its long-term outlook remains attractive. Once institutional investors stop dumping gold holdings and the US dollar rally stalls, Daniel says gold will zoom back up to $1,000 an ounce and beyond.
Andrew Gordon says major investors are being forced to liquidate assets to raise cash meet margin calls.
Gold prices closed up $70 yesterday – the biggest one-day spike since 1980. This marked a sharp reversal from a two-month correction that shaved over 25% off the price of the precious metal.
David Galland says profit taking by institutional investors has ‘trampled’ metal prices. But the deepening crisis on Wall Street, geopolitical tensions and a traditional September bounce could send gold soaring back towards $1,000 an ounce. David says this could “happen literally almost overnight.”
Here’s a no-brainer long-term investment strategy to stick to: buy and hold resources now.