Hello All,
I see today that altho’ the S&P is actually up ~5% from its bottom on June 16th, silver is now down to $19.15 today and gold to $1740, so both are now at lows…gold was this low about a year ago, and for silver, it was two years ago. Are there any amateur economists among us? If you want to stock up on either, should you wait or buy now?
We may buy a bit more, and watch the market for sudden drops. This reaction of gold and silver, etc. seems to be contrary to market logic, which might dictate a run for precious metals when the stock markets look weak. I think investors may be waiting for the next shoe to drop. (meaning no disrespect), but if Elmer Fudd decides to issue dangerous directives, and if they hold, you’ll see a run for the exits. I think I’d be buying a little more scrap as it comes available, send some to refiners, and take partial payment in small denomination gold coins. ((This is not a “jewelry” response…sorry…)). We’re in a business which celebrates relationships (this includes repairing that which was given as part of a relationship). Just remember; a stable economy is necessary for consumer confidence. Be the careful, skillful, friendly jeweler on whom customers depend, and you’ll get such business as is available… My advice? HOLD ON