Gold trades quietly as we head into the holiday weekend
Practical advice for new investors, those considering an addition to their holdings
(USAGOLD – 4/6/2023) – Gold is trading quietly this morning as we head into the holiday weekend. It is down $2 at $2020. Silver is down 2¢ at $25. Over the past thirty days, gold is up 8.5%; silver is up 17%. Many are asking if this is the long-awaited breakout in the precious metals. Sprott‘s Craig Hemke has some practical advice in that regard especially for those either entering the gold market for the first time or considering an addition to their holdings.
“[B]reakout rallies in COMEX gold and silver are coming in 2023,” he says. “They may have started already, or they may still be a few weeks away. The timing, however, only matters if you’re not correctly positioned before the event. As such, look around. Think for yourself and study history. Draw your own conclusions about where this is all headed and then prepare accordingly.”
(Editor’s note: USAGOLD is an excellent place to advance your education in the precious metals. For those looking to learn more about the rationale for owning gold and silver under current economic conditions, NEWS & VIEWS, our daily newsletter, offers much in the way of up-to-date independent analysis. If you wish to know more about the mechanics of investing in coins and bullion, simply review the menu at the top of the page. Much is offered there.)
Next DGMR: Monday, April 10, 2023
Gold and silver price performance
Chart courtesy of TradingView.com