Will the Euro crisis affect the price of Gold & Silver?
As im sure many of you are aware, Ireland has recently received a massive bail-out loan. Financial help may also be needed for Greece, Portugal and perhaps even Spain.
With this in mind, are the prices of Gold and Silver bullion likely to increase due to the weakening of the Euro?
Thanks
yes, it has an impact
The huge rise in the price of Gold, silver, palladium, corn, wheat, wine, stamps, art …. is all because people want REAL assets as they don’t trust paper money. Nor should they. When people lose more trust in paper money, and governments ability to pay back loans etc – they are likely to turn to safe havens. Just because they have gone up doesn’t mean they won’t continue to go up. Check this answer in a years time and I wager that Gold will be well above $2000/oz
Maybe gold itself will get TOO high, but really in 1997 tech stocks were TOO expensive, in 1998 they were absurd, by mid 1999 they were beyond the realms of stupidly expensive but anyone buckin the trend, however clever they were, would have lost all before it turned …. the last great bull mkt in metals was 1966-1982, a great long bear mkt in stocks … we’re only a few years into what I think will be another one. The only thing keeping stocks up is the fact that Bernanke and the Fed are recklessly trying to print their way out of trouble, which in turn keeps the demand for gold up and up
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Gold Proof Sovereign 1966 Cyprus Makarios 7.998g RARE Zypern Chypre Cipro Greece $685.00 |