My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Hello, its Thursday and welcome back to the Vault Cast. What a crazy week. We had a huge drop in the precious metals and today I’m going to be mostly focusing on that. My prayers are going out to those who are victims on the Boston bombing.
Just a reminder, I will be gone for a week. Monday’s episode will be an extended episode. I’m going to be going over the news and then answering a listener question on that show. There will not be an episode for next Thursday and the following Monday. I will be back and recording on our normal schedule as of Thursday, May 2nd.
Before I get into all this information let’s look at our precious metals pricing.
Gold - $1399.88 Up $22.49
Silver - $23.58 UP $0.27
Platinum - $1436.00 Up $14.50
Palladium - $671.00 Up $11.00
Is The Takedown Of Gold A Sign That The Entire Global Financial System Is About To Crash?
Somebody out there is sure getting prepared for something really big. We have just witnessed a takedown of gold and silver unlike anything that we have witnessed in decades. On Monday, the price of gold had fallen by more than 10 percent at one point. It shocked investors all over the globe, and overall what we have just seen was the largest two day decline in the price of gold in 30 years. The price of silver dropped even more rapidly on Monday.
It was down more than 14 percent at one point. There was an atmosphere of "panic selling" as investors and financial institutions raced to liquidate their holdings of silver and gold. But was this exactly what someone out there wanted? As I wrote about the other day, big banks and news outlets all over the world have been boldly proclaiming for weeks that gold is entering a "bear market" and that now is the time for all of us to sell our gold. In particular, Goldman Sachs reportedly told their clients earlier this month that they "recommend initiating a short COMEX gold position". Was that just a "good guess" on their part, or was something else going on? Were they actually trying to help create a "selling frenzy" that would drive the price of gold much lower?
Is this collapse in the price of gold a harbinger of another major stock market crash?
Time will tell.
Meanwhile, many average Americans are wondering if they should dump their gold and silver while they still can.
As I mentioned above, gold and silver are going to experience wild fluctuations over the next few years. When the next stock market crash comes, gold and silver are probably going to go even lower than they are today for a short time. But in the long run gold and silver are going to soar to unprecedented heights.
Investing in gold and silver is not for the faint of heart. If you cannot handle the ride, you should sit on the sidelines. We are entering a period of tremendous financial instability, and holding gold and silver is going to be like riding a roller coaster. The ups and downs are going to shake a lot of people up, but the rewards are going to be great for those that stick with it the entire time. Read More...
Does the collapsing gold market vindicate the economic elites?
Since the crash in the price of gold, most in the mainstream financial world have warned that gold should be sold, that the bull market in gold has ended. Their view is that the Keynesian policies of fiscal stimulus by Congress and monetary stimulus by the Fed are working to get the economy to recover. Inflation is not a concern, in their view, so gold, being an inflation hedge, is not needed in your portfolio.
The gold bulls, on the other hand, see things slightly differently. To them the decline in gold and silver prices have provided an excellent buying opportunity since the long term trend in these precious metals continues to be up.
Why?
Because the Federal Reserve and all other central banks continue to inflate and print money in unprecedented amounts in an effort to stave off recession. As Economic Collapse News has reported, central banks around the world are engaged in a currency war, a race to the bottom of who can devalue their currency the fastest, with Ben Bernanke of the Federal Reserve leading the way. Read More...
Massive drop in gold prices give a precursor to next major economic crash
On April 15, gold spot prices dropped more than 7% in the first two hours of trading in the U.S., expounding upon the 5% drop in price that took place on Friday. This crash of more than $200 per ounce over the past two trading days provides a warning sign, and a precursor to a major financial crash coming to the global economy.
In July 2008, gold quickly dropped 21% - seemingly pre-empting the Lehman debacle and the collapse of the western banking system. In September 2011, gold fell 20% in a short period - as Europe's risks exploded and stocks slumped prompting a globally co-ordinated central bank intervention the likes of which we have not seen before.
Gold and silver have always been barometers of the strength of a particular currency, and as an asset hedge to other paper investments. When major selling of gold takes place in the markets, the primary reason is the need for sovereign countries, banks, or hedge funds to liquidate holdings to cover margin calls, or use as collateral for debt obligations.
We are seeing this take place as the Troika calls for Cyprus to hand over their gold reserves to collateralize a sovereign bailout, and investment banks dumping more than 400 tons of gold onto the markets over the past few days to create solvency in preparation for a potential monetary crisis. Read More...
For the best source for acquiring gold and silver please contact Silvertowne at 1-877-477- coin, that’s 1-877-477-2646 or you can visit us at www.silvertowne.com. Silvertowne has been a trusted precious metals and numismatics dealer since 1949.
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[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
