Metals Minute 134: Buying Opportunity
Sometimes the sale keeps getting better, but not for long. I know - we said on the last Metals Minute it was an excellent time to accumulate, and prices have dipped a little further today. The best way to describe it is as a “buying season.” Chart technicians are now discussing the possibilities of a near-term low for gold at the $1680’s when it bottoms within a couple of weeks. The temptation is to wait to purchase, to save a few dollars.
The challenge is, demand increases for physical metal at these prices to the point that whatever you save in spot price, is often overcome by premium increases. I made a purchase of goldand silver the last few days and will purchase platinum later today.
A scriptural concept involving “faith and patience” says that it takes both to reach our destination. For the owner of the precious metals, faith doesn’t need to be blind - because we can look back in time and see history unfolding again in front of our eyes.
Happy & safe Labor Day Weekend to all! Keep the faith (and patience)…