Why we’re nowhere near the mania phase in precious metals
Simon Black on May 24, 2012
May 24, 2012
Lake Tahoe, USA
Yesterday was my lucky day.
While hiking in the middle of nowhere around Lake Tahoe, I literally stumbled onto a 1-ounce US silver eagle coin, 1996 issue. It was just lying there on the ground without a soul in sight.
.
.
.
But as unscientific as my informal poll may have been, it does suggest one obvious conclusion: we are nowhere near the mania phase for precious metals… and any talk of a gold ‘bubble’ is complete nonsense.
The current pullback is just that– a pullback. Like we saw in 2008, institutional money managers are locking in their profits as they cash up and prepare to take heavy losses over the euro crisis.
Gold and silver’s real breakout will be when the average, everyday guy has signed up to receive gold price SMS alerts to his smart phone and has the local coin dealer on speed dial.
More: http://www.sovereignman.com/finance/why-were-nowhere-near-the-mania-phase-in-precious-metals/
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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