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Experts Weigh in on the Recent Action in Gold and Silver

The User's Profile Adam Taggart September 27, 2011
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Over the weekend, we reached out to several popular precious metals experts to get their quick take on the recent downdraft in gold and silver prices.

  • David Morgan
  • Ted Butler
  • Turd Ferguson

Here’s what they had to say:

David Morgan

Déjà Vu: for precious metal investors have we been here before?

The recent drop in the precious metals has not changed my long term outlook for both gold and silver. The current rout reminds me of the financial crisis of 2008 when we told readers much earlier to sell the trading only position of their holdings very near the top of $21 silver. It was a long wait but our indicators kept suggesting lower prices. They finally came in a very dramatic way and silver eventually moved down to below $9.00. We made a call for a bottom at $12.50 that appeared correct only to be proven wrong later. However, looking at buying silver at $12.50 and holding all the way up until May 1, 2011 would have yielded excellent returns.

The question becomes will we see something similar in the precious metals again? Perhaps we can answer a question with a question? Do you really think that in all of recorded monetary history that a fiat currency will trump gold (silver)? Is is possible that the rush to hold any currency that is at the whim of political pressure and a debt burden that cannot be met will actually survive against “real money” that has no counterparty risk and is NOT backed by debt?

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Top Comment

Silver margin rates are now so high that the Comex has basically become a physical market. In the absence of speculators, there is little...
Anonymous Author by arthur-robey-2
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