HUGE LIFETIME OPPORTUNITY! How Many Ounces Of Gold & Silver Are You HOLDING? - David Morgan
HUGE LIFETIME OPPORTUNITY! How Many Ounces Of Gold & Silver Are You HOLDING? - David Morgan
According to GSC Commodity Intelligence, the last time Silver prices broke above 32 dollars– the precious metal went onto trade at 50 dollars an ounce within the space of 100 days. If this is a leading barometer for predicting the future performance of Silver prices, then this ultimately means that higher Silver prices are coming.
David Morgan is a widely recognized analyst in the precious metals industry, known for his extensive expertise as the publisher of the Morgan Report. In this video, David Morgan cautions against over-leveraging, such as using credit cards, second mortgages, or borrowing excessively to buy silver. While viewing gold and silver as a hedge against uncertainty, he foresees many happy precious metals investors in the coming years due to a positive market outlook. The two metals move largely in tandem as both offer similar macro- and currency-hedging properties. With gold hitting a record on central-bank buying, retail interest in China, and a resurgence in bets lower US interest rates are on the way, silver's gone along for the ride. Although there's been scant interest from investors in silver-backed exchange-traded funds, physical sales have picked up, including at Singapore-based dealer Silver Bullion Pte.
Meanwhile, Morgan expresses that the best way to approach investing in commodities like silver, cotton, or cocoa is to understand the average cost of production. Given this, he advises considering a margin above this cost, suggesting adding 10-20% to the 28 dollars, bringing it up to 31 or 33 dollars as a reasonable buying range.
Reflecting on past performance, Morgan notes that the ratio reached 33 to 1 during the bull market but anticipates improvement to 10 to 1 in the next cycle. David Morgan suggests that if gold prices hit 8,000 dollars, investing in silver, even at 80 dollars per ounce, might be more feasible for those with limited funds.
Silver's rally this year has been even stronger than gold's. While it's been easy to miss with gold hogging the limelight, silver is up by about a third since the start of the year. Silver has some additional attractions that, in an era of growing positivity about precious metals generally, make it stand out. First, it's still moderately cheap compared with history. The ratio of gold to silver prices has averaged around 65 to 1 since the US finally abandoned the gold standard in 1971. Today, the ratio is around 75 to 1, even after the recent strong rise in silver.
Regarding the potential for price increases in the coming months, Morgan highlights a noteworthy trend. While North America sees limited retail demand, there's a significant surge of interest in China, particularly among Chinese investors. This surge coincides with ongoing pressure from industries targeting the silver market, notably in green energy projects.
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