Gold-O-Mania is Coming

Gold last traded at $1,849 an ounce. Silver at $24.73 an ounce.

NEWS SUMMARY: Precious metal prices eased Friday on mild profit-taking despite a weaker dollar. U.S. stocks traded mostly lower as concerns over a Covid-19 resurgence weighed on global markets.

--Gold Switzerland--"As exuberance continues to dominate intoxicated stock market investors, they haven't yet noticed that all is not well on the perilous seas. Still, most markets continue to respond positively to the printing press rather than to the underlying fundamentals.

Printing presses don't create real value, instead they create bubbles full of worthless air. But sadly intoxicated investors confuse air, which is free and has no value, with real, intrinsic values....

Since the time we made substantial investments in the physical gold market in 2002 at $300, I have never worried one day about the value of gold. History told us that gold, with normal fluctuations, would always reflect constant purchasing power.

And since I back then predicted that risk in the financial system would increase dramatically, physical gold was, and still is, the obvious wealth preservation investment....

Gold must not be held for speculation or instant gratification. Instead, hold physical gold and some silver for wealth preservation purposes.

Physical gold and silver will not just preserve your wealth but substantially enhance it as the world economy enters a very troubled time.

So will we have Goldomania? Yes, very likely.

This means that gold (and silver) could become overvalued and overloved at some point in the next 5-10 years like in all manias. That might be the time to swap some gold and silver to undervalued and unloved assets which could be stocks, or land or solid businesses. Such situations can create fantastic opportunities but first we must go though some cleansing and difficult times."