After finishing the best first half of a year in decades, with record investment demand, gold and silver are still going strong, asserts Mary Anne and Pamela Aden, co-editors of The Aden Forecast.
With each passing month, more people, famous and otherwise, are joining the growing bull market. It’s exciting.
From Jeffrey Gundlach, to Bill Gross, Stan Druckenmiller, David Einhorn, George Soros, and even Carl Icahn and Paul Singer, they’ve all placed big bets on gold.
And of course investors from Japan and Europe, where interest rates are negative, are running to gold. Gold has become a safe haven and the currency of last resort.
It costs less today to hold gold than to hold euros or yen, for example. So it’s no surprise to see gold rising in terms of several currencies.
It’s clearly not too late to get in. We’re still in the warm up or transition year from bear to bull. It’s a turnaround year for silver as well, which is now stronger than gold on a major trend basis. This means the percentage gains will be greater in silver than in gold.
Keep your positions, and buy new positions by averaging in or on weakness. We’re adding Agnico Eagle (AEM) and the Market Vectors Junior Gold Miners ETF (GDXJ) to our list of gold shares.
Silver Wheaton (SLW) is our favorite silver share. It reported higher 2Q profit and record production. We’ll clearly keep this in our stable of gold and silver shares.
Overall, all the precious metals are bullish and this in it self is a bullish sign. This doesn’t mean we won’t see a decline upcoming.
In fact, as the summer comes to an end, and we get closer to the election, we could see a normal decline develop.
Most important during this time, is to buy at the best price possible if you don’t have all of your positions set. Ideally, we’ll see a correction, and that would be the time to load up.
We believe we’re at the onset of a full blown bull market, and we want you all to be on board for an amazing ride.
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By Mary Anne and Pamela Aden, Co-Editors of The Aden Forecast
