precious metal- Money Morning - Only the News You Can Profit From.
We've been recommending gold shares for months now, ever since prices collapsed in April. But timing's getting critical, because now the market is telling you gold is set to surge...
The first piece of evidence hit my radar on August 1st, moments after Barrick Gold released its $8.7 billion "news." (More on that in a minute.)
Precious MetalsWhat's Driving Gold Prices Today
Gold prices today are still below $1,300 an ounce as traders in the United States and Europe continue to sell the precious metal.
Western investors were the main driving force behind redemptions of nearly $19 billion in gold-backed ETFs in the second quarter of 2013.
We Warned You Gold Could Fall… Now Here's What's Next for That Precious Metal
By eking out a small gain, gold prices ended their worst skid in 18 months in trading today (Thursday), after worries about Germany's credit rating trumped a margin increase by the operator of the exchange where gold contracts trade.
After trading down more than 2% earlier in the day, gold for December delivery reversed course and closed the day in positive territory: It finished today at $1,764.70 an ounce, up $6.80 an ounce, or 0.4%, on the Comex division of the New York Mercantile Exchange (NYMEX).
But where do gold prices go from here?
Silver Investing Strategies: The Outlook for the "Other" Precious Metal
Silver rose as high as $41.98 an ounce this week - a 31-year high - and has remained above the $40-an-ounce level. That means that the "other" precious metal is up about 32% so far this year - and has more than doubled since Money Morning recommended it to readers in early September.
But where does it go from here? And how should investors position themselves? To answer those questions - and others - Money Morning brought its top "gurus" together for a roundtable discussion.
For this discussion, Money Morning Executive Editor William Patalon III and Associate Editor Kerri Shannon sat down with Money Morning Chief Investment Strategist Keith Fitz-Gerald, contributing editors Shah Gilani, Martin Hutchinson and Peter Krauth, and Contributing Writer Jack Barnes, the author of our popular weekly "Buy, Sell or Hold" feature.
The consensus: The long-term outlook for silver remains bullish, and a projected near-term pullback might even be healthy. But certain stocks and exchange-traded funds (ETFs) will likely be winners, and certain metals dealers are more reputable than others.
What follows is a transcript of that silver investing strategies roundtable discussion:
For our forecast for silver prices - and our top profit plays - please read on...