3 Buried Treasures in Gold and Silver
If a gold bottom is near, Dr. Michael Berry says it’s the ideal time to pick up bargains in the mining sector, and in this interview with The Gold Report, Berry names three lesser-known miners with big-time potential.
The Gold Report (TGR): The Gold/Philadelphia Gold and Silver Index ($XAU) ratio recently surpassed its high in 2008, slightly crossing 11, and peaked in the high 10s at the bottom in 2008. Do you think we have put in a bottom?
Michael Berry (MB): If I were 100% sure, I would be a very wealthy person. I think we’re close to a bottom here. Gold is too important. The long-term secular bull markets, such as we’ve seen in gold and silver and in fact in many of the metals, do not end this way.
They end with a parabolic move upward. That is why I don’t think this is the end of the gold bull market at all. I think it’s probably a welcome reprieve. But ultimately, if we are not at the bottom, we’re fairly close to it.
Here is a daily chart:
TGR: You testify to the Federal Reserve Board twice a year.!--start-->!-->