Longtime gold bashers are gloating over the precious metal’s recent price slump. Gold prices have declined more than 10% in the first quarter of 2021. But the perma-bears shouldn’t feel vindicated. After all, anyone who heeded their advice missed out on gold’s record run in 2020 – and on many years of outperformance since 2001.
While gold bugs are often accused of having an unhealthy obsession with the metal, the “anti-gold” bugs reveal a deep-seated bias that can only be explained as irrational or dishonest.
Financial Advisers Don’t Get Fees Recommending Physical Gold
It’s no mystery why many who work in the financial industry hate gold. They are in the business of pushing paper assets, and physical precious metals held outside of bank and brokerage accounts generate no fees for them.
Congressman Mooney Introduces Bill to End Federal Taxes on Gold and Silver
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Many investors sense that the country, and the world, has drifted into uncharted territory.
The last year has been extraordinary. There have been COVID lockdowns, a disputed presidential election, and multi-trillion-dollar federal deficits and bailouts. The Federal Reserve has injected more money into markets than ever before.
This insanity showed up in the physical gold and silver markets.
Bullion dealers have spent much of the past year fighting to get inventory, because investment demand for coins, bars, and rounds has never been higher.
The frustration, for both seasoned metals investors and a whole lot of newcomers, is the demand hasn’t been fully reflected in the price. Yes, silver prices have showed strength. But silver has underperformed commodities such as lumber.