Throughout the year, from interviews and in my writing, I’ve been trying to give anyone that would listen a glimpse of what is to come in precious metals. One of those in particular, is the habit shift of millennials ultimately jumping onboard the precious metals train as higher prices and concerns surrounding them wins them over.
This shift happened sooner than I expected.
GLD and SLV have spiked in the rankings of Robinhood’s top investments for these traders, most of which are in the younger demographic.
Granted, they are mostly chasing returns right now while the true impacts of inflation haven’t fully shown in a materially noticeable way. The inflation that we’re seeing now is akin to the water that slowly boils the frog.
Nonetheless, when we do see that material rise in prices and a clear problem with the currency, there will be an appreciation for hard assets that will come through pain and necessity and not because of sole profit chasing.
As we’ve seen shifts in our world take place at rapid speeds, the shift into precious metals has been swift.
A major caution I’ve been trying to preempt as we go deeper into this bull market is the nature of markets to inflict maximum pain on investors.
So many people are on the sidelines because they are waiting for confirmations and more pullbacks in the sector, and here we are. Gold is virtually at an all-time high and silver has had its best week in 40 years!
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Just as we predicted, the $21.79 level in silver would be a major breakout point for it once breached. I’m also anticipating gold taking out its all-time high in very short order, and when it does, all hell could break loose towards the upside.
We’re talking about gold in the headlines and walls of money coming into the sector, which currently makes up less than 1% of portfolios.
So, what I’m saying is, this train has already left the station but there will be more departures that you can certainly board.
I’m going to keep my comments brief today because I just released a must-listen-to interview with David Jensen of SafeHaven.com.
It is one of the most timely interviews I’ve done and it really sets the tone for where we are right now with major bullion banks exiting their metal manipulation scheme because of rising prices and the inability to control prices anymore.
With major bullion banks exiting the trade, the POTENTIAL for true price discovery could mean astronomical returns for long precious metal investors.
Chief Editor, CrushTheStreet.com
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