Precious metals investors are familiar with the old adage,
Go away in May and come back after Labor Day.
Price movements for gold and silver are usually sluggish during the Summer months, with Labor Day marking the beginning of the next bullish move.
With Labor Day fast approaching, this adage certainly rings true, as silver prices have moved from $14.90 to $16.23 in the past three days!
Coincidentally, many analysts have predicted that, starting near the end of 2009 (Yes, we are almost there!) and through 2010 and beyond, the hyperinflation, which will be the ultimate result of the Fed’s creation of massive amounts of new unbacked money, will likely begin to show its ugly head at the marketplace.
As inflation goes up, the dollar goes down, and the precious metals gold and silver go ballistic!
Not coincidentally, I read the following headline today,
Chinese sovereign wealth fund dumping dollars for strategic investments like gold.
Reports suggest that China’s main sovereign wealth fund and other state entities are under pressure to invest in strategic Western assets as the country tries to offload its dollars for firmer-based wealth including gold and oil. (Mineweb.com)
Folks, this is the beginning! These are only the birth-pangs. If you haven’t moved your dollar assets into physical gold and silver yet, now is the time to back up the truck and load up!
My web site: The New Survivalist.com