Good afternoon Steemian friends. Legendary London metals trader Andrew Maguire revealed today that giant Swiss commodities fund AHV has swapped out of paper and into 100 percent physical gold. Maguire says he is finding this everywhere. They want their assets out of the system before the next financial meltdown.
Maguire further says he saw this action in 2010 just prior to the silver launch to almost 50.00 per oz. and gold to 1920.
Next, one of the best technicians I have followed for a long while Morris Hubbartt, shows today why gold equities are looking like they too are in a great position for accumulation. Personally I feel they may outperform the metals.
We are in the summer doldrums and even though this is a weak period for gold and silver, I like what I'm seeing and expecting a slow inching ahead as you're seeing today. Thing should pick up steam as we head toward Sept.
See a couple of Hubbarrt's charts below. I particularly like Barrick and will divulge I bought it recently.
GDX (or GDXJ, the juniors) is timely here. Disclosure: I own both.
See the silver seasonal above...at 16.75 silver is "bottoming" here 15% higher than last year.
Again we are looking for 1450 gold and 21.00 silver this year.
Thanks for the visit. UPVOTE,FOLLOW,RESTEEM, and please do your own due diligence.