What 2008 Taught Us About Silver

[outsider club logo header] Sep 09, 2024 | By Christian DeHaEMER What 2008 Taught Us About Silver Gold bottomed in 2016 at about $1,053 an ounce. Since then, it has been a good investment as it is now priced at $2,526 an ounce, just a bit off its all-time high. And yet it remains a fringe investment. Most people aren't interested in gold. I’ve yet to hear an Uber driver or waitress talk about gold. The price of gold is rarely mentioned on investment news shows. This wasn’t always the case. About fifteen years ago there were “buy gold” places in every strip mall. There were commercials on TV telling you to send in your old unused gold in return for very real cash. In the aftermath of the great financial crisis, gold was running hot. The Dollar Hedge You do hear about the BRIC countries buying gold. China and India have long histories of using gold as a storehouse of wealth. Russia is acutely aware of the U.S.-controlled international banking system and needs gold to bolster its own monetary system. Kitco reports: “Russia will spend 8.2 billion rubles ($92 million) each day on[gold]( and foreign currency from September 6 through October 4 for a total of 172.9 billion rubles ($1.9 billion), the country’s Finance Ministry announced on Wednesday.” Perhaps the biggest catalyst for gold prices moving higher is that the U.S. Federal Reserve is set to cut rates starting on September 18th. Some people think the Fed will cut 0.25% others think they will cut 0.50%.  The U.S. dollar is falling in anticipation of that. The greenback bottomed against the Euro last October and against the Yen last month. I like gold and if the market sells off over the next nine months it should go up about 50% to $3,750 an ounce. Gold mining stocks won’t do well until all the margin calls are hit and the liquidity clears - and then they will make a moonshot. --------- Sponsored --------- Expert who called 2020 crash issues AI warning During the 2020 bull run, Silicon Valley insider Jeff Brown warned that Zoom could fall as much as 92%. It went on to crash from $325 all the way down to $58. For years he’s warned that Intel was headed for trouble. It recently plummeted 28% overnight, and suspended its dividend. Now Jeff’s issuing another “warning” about AI stocks – only this time, his forecast is much bigger. [Click here to get the details before it’s too late.]( -------------------------------------- Silver Half Dollars That said, you can’t talk about gold without mentioning silver. Historically, silver is as cheap as it has ever been compared to gold. This is the SPDR Gold Shares ETF (GLD) compared to the iShares Silver ETF (SLV).  [GLD v. SLV] As you can see both went up in late 2007 and early 2008. The big selloff started in March of 2008. Both gold and silver went down due to margin calls. Investors were selling everything. But once they bottomed both ETFs launched with silver overshooting gold. We now have a large gap where silver is undervalued in relation to gold. The argument is that silver has more upside from here. All the best, Christian DeHaemer Outsider Club  For your continued reading: Russia's Finance Ministry to boost currency/gold purchases 7-fold [( Gold To Silver Ratio [( Remember... Keep It Simple [( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. Outsider Club, Copyright © Osprey Financial Research LLC, 5004 Honeygo Center Drive Suite 102-202