Gold sets record high amid economic fears. Or did it?The actual record was set 30 years ago, when the price of gold, in today's dollars, hit $2,387, or  more than 71 percent higher than it closed on Tuesday at $1,376.20.  I see the current market conditions as a buying opportunity. Right from the start of the financial crisis, it was apparent that one of its biggest long-term casualties would be the mighty dollar, and with it, very possibly, the American economy. The Fed has made it clear they will continue quantitative easing (devaluation of the dollar) in order to try and achieve their agenda. However, the United States government will go bankrupt unless it dramatically changes its fiscal direction. The current policy is based on a false-and dangerous-premise: that manipulating the dollar's buying power will lead to higher employment and economic growth. However, the experience of the past 40 years points to the opposite conclusion.
So what does this mean for the precious metals market?  "The jump in gold and silver prices illustrates that it's not just supply and demand issues driving the precious metals higher, the decline in purchasing power of the dollar is also showing up in the price of physical goods. I see this market continuing to run and push new levels we never dreamed of. As long as helicopter Ben is at the controls of the money making machine it would be financial suicide to not have ten to twenty five percent of your portfolio in precious metals."
If you are interested in diversifying into $10,000 or more please feel free to call or e-mail me. I am interested in answering all your questions and providing you with all the information you need so you can make an educated and confident decision that is best for you. My e-mail address is [email protected] and my number is 877-864-1072
Sincerely, Mike Weiner Senior Account ExecutiveSwiss America