The U.S. Mint confirmed a record 40 million ounces of silver sold from January 1, 2013 to November 17, 2013. It is estimated that more than 50% of the silver mined world wide goes to industrial uses. Industrial demand is the primary driver behind silver and the growing solar industry will continue to add to these numbers.
Due to the constant market manipulations we see in gold, we continue to suggest silver for current clients and those looking to invest in physical precious metals.
How long will we see gold in the $1200-$1300 range? As long as the Fed continues to orchestrate record sales of paper gold. This can continue well into 2014 and beyond. One thing is certain, the dollar is a dying currency and when its true purchasing power is revealed, we will see gold resume its natural course not to look back again.
Throughout history, fiat currencies die a slow agonizing death that usually lasts many years. The U.S. dollar is on its death bed but it can be printed as long as countries and citizens believe in it. For many reasons, we readily accept the fact that it buys less and less each year.
A bird in a cage thinks it’s free because it’s all its ever known. Human mindsets are oftentimes no different.
Gold Goliath is not your typical gold dealer.