(Mike Maharrey, Money Metals News Service) Over the last couple of months, gold has scaled record highs, peaking at over $2,430 an ounce before correcting and settling in the $2,300 range.
That’s a healthy gain. But you could argue that gold remains significantly underpriced given the inflation we’ve experienced that continues to rapidly devalue the dollar.
That leaves many people wondering when gold is really going to break out.
It’s impossible to predict the timing of such things, but as Metals Specialist Garth Patchen put it, “It will leave the port-of-call at some point.”
“And like Noah’s Ark of old, those who miss the boat will face a catastrophe.”
The thing is there are only so many seats on board, and prices are relatively cheap at present.
Do you really want to wait until the final hour?
Patchen paints a vivid word picture.
Imagine the masses trying to clamor aboard at the last minute, in the last hours before the doors close.
Unfortunately, their flimsy financial “life preservers” (fiat dollar-denominated assets) won’t be adequate. They’re not going to float in the tempest to come.
Imagine trying to bail out of stocks when they’re dropping like a rock in an effort to salvage something close to your original investment (principal).
Imagine trying to get your cash out of the bank when “capital controls” are instituted, and you can only pull out $3,000 per day or less — or none.
Imagine trying to purchase physical gold and silver at much, much higher prices.
Imagine the FOMO (Fear of Missing Out).
Imagine the fearful, stressful rush to find safety in the face of an oncoming disaster.
Imagine if you can, how sweet the sleep is of those who have prepared ahead of time for any eventuality.
And the worst scenario?
Imagine missing the boat altogether.
Patchen sums it up this way:
“We implore you to think like a squirrel, prepare for winter like a bear, maybe even migrate like geese, and duck for cover while you can. Every day, Money Metals Exchange assists its customers in preparing for the financial storms that are on the horizon — for the bleak winter(s) ahead. When your capital assets are safe and secure, in the form of physical gold and silver, you will rest a lot easier. They are one component of preparing for any eventuality. There is a lifeboat with open seats awaiting you right now. What are you waiting on?”
Mike Maharrey is a journalist and market analyst for MoneyMetals.com with over a decade of experience in precious metals. He holds a BS in accounting from the University of Kentucky and a BA in journalism from the University of South Florida.
