Precious metals have not had easy in recent years. The gold and silver prices have fallen sharply since 2011, increasing the number of investors that lost confidence in precious metals. However, the bulls returned bravely last year. 2016 was the year where the precious metals saw profit again and the positive trend continued this week.
Gold’s renewed momentum, following a disappointing May jobs report, is expected to continue into next week with some analysts saying that $1,300 could be a viable target.
Unlike many other markets, the gold market still has sufficient growth potential. According to data from the US government, the number of purchase positions in gold has increased by 37% over the last two weeks. According to these data, this is the hardest increase since the year 2007. It can be seen on the chart below from Bloomberg. At this time the precious metal is very popular. Considering the tensions in the world, increasingly larger parties are seeking security within the gold market. Not to mention the 'undervaluation' in this market.
If you want to respond to this trend, here is one stock that can break out.
Coeur Mining Inc (NYSE:CDE) - by Schaeffers Investment Research
http://www.schaeffersresearch.com/content/analysis/2017/06/08/this-gold-stock-could-break-out
Currently I have postitions in Silver Standard Resources and Pan American Silver. Both on the NASDAQ exchange.
Thanks for reading and don’t forget to resteem or read my other post about investing. https://steemit.com/@unknowncrypto
Lets keep this BOOMING!
UnknowCrypto
Gold will rise!....Silver too....:)...
Thank you @jang for reading and feedback!
No problem...:)... Real money is Priceless!!!...
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Great post, There is definatly a different feel to the precious metals markets, the amount of bad news in the world gold should be $10,000 by now. Cheers
Thank you @silverbug. Hope it wil hit the $10,000. Just put some money in silver miner stocks