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Q: Is now the time to buy more gold or to finally get in the game? A: Yes. Make sure
that you take advantage of today’s price and “mine” your own gold. [Here are 4 reasons why that is the case.]
So says Michael Checkan from Money Morning in edited excerpts from the original article* as posted on beforeitsnews.com and entitled The Best Reasons to Own Gold NOW.
[The following article is presented by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]
The article goes on to say in further edited excerpts:
1. Gold prices are now at or below production costs.
With gold falling to its current levels, we are very near gold production costs ($1,000 – $1,100 an ounce) for many mining companies around the world so you can now buy gold at or near the price it would cost a mining company to get it out of the ground. Buy now and you buy right! It’s like owning your own mine.
Also, don’t be afraid of further price dips. Here’s the likely scenario: Any further falls in prices will cause miners to cease production and/or stop opening new mines. Supply will have a harder time keeping up with demand. Prices will rise and you will sell right. Buy low, sell high and protect your portfolio from rapid fluctuation in the market value for your securities…
2. You can buy more ounces of gold for your money now.
The printing of U.S. currency by the government has devalued our dollar and will continue to do so [but there currently] is a small window of strength in the dollar…[so] take this rare opportunity to buy gold…
The U.S. dollar…has lost 96% of its value to buy goods and services over the past 100 years [so you can’t] expect that strength to last long. Now, more than ever, it is critical for everyone to own gold. We have passed beyond the slippery slope of currency debasement. It is not a question of if, but rather when, the dollar becomes the latest addition to the fiat currency graveyard.
3. Gold is now, as always, a core asset that is essential in a political, economic or personal crisis.
Gold has millennia of history as a tangible asset negotiable as payment for your everyday needs, when cash and paper investments fail you….Gold…is “wealth insurance” that will protect you and your family from an unfortunate monetary crisis, over which you have no control.
4. The only thing that has changed now is the price of gold, not its wealth power.
Paper profits continue to disappear as we desperately try to balance our portfolios with traditional stock and bond securities but asset allocation no longer works when markets are manipulated by a word or two from the White House or the Fed; and when billions reside in ETF’s and funds that go up and down in tandem. The lesson is clear: in a monetary crisis gold is the very best insurance you can have. This is true whether it’s the gradual erosion of purchasing power, as we are seeing now with the U.S. dollar, or the sudden, catastrophic plunge of a currency due to economic, social or political unrest which has occurred many other times, in many other countries, throughout history.
Conclusion
Gold works. It has before. It will again. Make sure you heed this lesson of history and make sure that you take advantage of today’s price and “mine” your own gold. Buy now and you buy right!
[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]
*http://beforeitsnews.com/economy/2013/07/the-best-reasons-to-own-gold-now-2535654.html (Portions copyright © 2013 Before It’s News Inc., All Rights Reserved.
Before It’s News® is a registered Service Mark of Before It’s News Inc..)
bcd Where will we sell silver @ 200 dollars an oz.?
Buying gold or silver is a great investment idea. In many cases, precious metals professionals are actually saying that silver is the best play right now since the gold/silver price ratio is way too high from what it normally has been for much of the past 100 years.
Currently – One ounce of gold is currently 65 times more expensive than one ounce of silver. However silver reserves (i.e. the amount of silver that mining companies estimate they can extract from the ground) only outnumber gold reserve by a factor of 10.6. Thus, it stands to reason that the gold/silver ratio should be closer to 10.6:1 than 65:1. With gold trading at $1,293/ounce, this would put the silver price at $121.98 per ounce (currently silver is at $19.63/oz).
I suggest that what is good about buying Gold is also good about buying Silver!
Or said another way:
Got PM’s?