The good thing is that even after a good US July jobs numbers gold and silver have nearly pared most of their losses. Investors and everyone are buying gold and silver. The hallmark of the beginning of a bull market is the tendency to shrug off negative news and rise. I think gold and silver are on the verge of a repeat of 2004. Gold’s bull run started from August 2004 when prices were at $380.
Christians in America have started opposing imposition of Sharia Law around mosques etc. Some US war veterans are taking arms to prevent the imposition of such zones. It may be small news to you. It is big news to me as I see the seeds of a civil war being sowed in America. Gold and other non paper based investments will only rise.
The world is now being divided between religions. In India religious divisions are a daily event. Financial markets are affected by what happens in the USA, the UK or the Eurozone and not India or Pakistan. Division of America and Europe on the basis of religion will start another historical bull run in gold and silver. This bull run will seem unending. However my bias for physical silver over gold (as a long term investment) will never change.
This post was published at GoldSeek on 10 August 2016.
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