Be sure and read the quotes, above – especially the first Sinclair quote. Trust what he has to say. I do. Yes, I believe that gold is headed to $4000 or higher during the 2015-2017 period, and the dollar is in danger of a massive devaluation. Sinclair, as usual, tells it like it is and pulls no punches. Be long gold and short dollars. Follow that advice and you win. Ignore it and you lose. It’s just that simple.
Recently, I read reports from Stansberry and Larry Edelson suggesting that gold was in danger of a major correction, down into the $1300s or low $1400s. Both of these gentlemen assure us that they are still bullish toward gold and silver, but not short-term. At least they are long-term bullish and acknowledge that the bull market is far from over. Personally, I strongly disagree with their analysis, which is strictly based on technical analysis. I have less faith in TA than they do, in a market place dominated by manipulation.
When you consider the kind of information that they are presenting, it has to make you uneasy. What if they are right? After all, anything is possible. Bearish views, like those presented by Stansberry and Edelson, are not in tune with writers like John Embry, Bill Murphy, Andy Hoffman, Bill Holter, Jim Sinclair, Jim Willie and myself, to name but a few. What do all of us share in common? Most of us have been heavily involved in the precious metals industry for decades. We may not be right, but we are not fools and we are very experienced. You know my view – I am still very bullish and believe that January through April will be very kind to gold and silver. We shall see.
So how should you react to the following question: Is it prudent to hold off buying gold and silver now, at these low “correction” prices? As we head into 2013, I would like to share a few of my thoughts on what lies ahead for gold and silver.
First and foremost, I remind you that GOLD IS NOT AN INVESTMENT; GOLD IS MONEY. A simple statement, but it has deep meaning. When you think of gold only in terms of profit and loss, you become speculators. Count your gold IN OUNCES not IN DOLLARS. Your wealth, in the long run, and even in the rather near-term, will be measured in how many ounces you own. The price will take care of itself.
Read More at milesfranklin.com . By David Schectman.