Thursday, March 5, 2009

“ Another Gold and Silver Collapse Near” - Daryle Lambert

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It was about one year ago that I suggested that you sell your gold and silver. We are at those levels again and you don't want to get caught with your money in these industrial metals at their current prices where gold is nearly $1000 an ounce and silver is $12 an ounce. One year ago gold was at $1000 an ounce and silver at $21 an ounce. If you took my advice you could have cashed out at $1000 for gold and $20 for silver. Since that time gold has hit $750 and silver $9. Because of Obama's miscalculations the markets have risen to a point where it is time to take a profit again. The use of these metals hasn't increased but has actually declined. Who is buying jewelry today? That is all that gold is good for, with the exception of some that is use in electronics

All the signs are there for you to take your profits. The television scam artists are hawking gold as if there will never be another ounce mined and even the Hollywood stars who are telling you to buy are probably selling their own gold. I know it is time to sell when you can't turn your television on for over 30 minutes without seeing a commercial to buy gold. If it was such a great opportunity to make money they would be keeping it a secret. No, instead they are selling you their inventory that they purchased when it crashed last year. Gold has reached its high again because it is being touted as a hedge against inflation but that old story doesn't work any longer. Today there are better ways to hedge so it leaves the only purpose for gold and silver as industrial metals.

If you have gold and silver coins or bars I would suggest that you sell them on because there isn't a charge for a year on what you sell and you will receive the total amount of money your items bring. It is even the time to sell graded coins.

Following the markets you will have seen that silver hasn't acted as well as gold and isn't near the high it reached a year ago but it is still a sell. I believe silver could fall 50% from the price it is today, maybe more, and gold 25%. If you are dealing in silver and gold today be sure to make a quick turn around with your purchases because you don't want to get caught with large inventories when these markets turn south.

There is an old saying in the song about gambling and it goes like this “You have to know when to holdem and know when to foldem.” Well it is time to foldem and your time to get out might be limited.

Don't be the last one out because it could cost you dearly.

I have suggested that you buy coin collections in the past and I still do but you must keep in mind that we want to double our money or better on each transaction we make, so get in and out as quickly as possible. Yes, gold and silver are still great for trading but not holding.

Remember my outlook for gold is a 25% decline from here and silver a 50% decline. I know there are people that won't like what I say but that doesn't matter to me because I am looking out for you. When I published my last article all the scam artists tried to get it pulled but I don't think they will try that again. Gold and silver just aren't a great buy and hold investment any longer.

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