Source: bloomgerg.com
Having watched the daily moves on precious metals for the past several years, it is very discouraging but I truly believe that one day (hopefully very soon) the price of gold as well as silver will do a moon shot.
Well hopefully Egyptian billionaire Naguib Sawiris knows something I don't, he recently made an extreme bet by investing half of his net worth into gold. His net worth is $5.7 billion. Given that he must have some knowledge on investing as he has amassed 5.7 billion, there must be a reason why he is willing to make this bet.
He states that he believes that gold is going to rally to $1,800 and he feels that the stock market is overvalued. He believes that people move to gold during times of crises and as everyone can see the world is in crisis.
Mr. Sawiris is Egypt's second richest man, he is heavily invested in the telecom industry as well as property and financial assets. It would seem that to follow his lead on investing in gold would be a safe bet.
He's probably correct. The big question is when. So many analysts think it's going to happen in 2018, given the performance so far this year I'm less sure. I'm thinking perhaps 2019 or 2020, but I be glad to be wrong on that.
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I hope you're wrong but everytime it looks like a rally is starting, it gets hammered. The only thing I can say is 'keep the faith', it's gotta happen.
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It will happen eventually, it really is just a matter of time now.
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I guess I will have to wait - some more. lol
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Let me see the trends out there in the market, China, Russia, India, Turkey.......Accumulating Monthly....CHECK........USSA, Canada, The UK........not accumulating at all.....Ummmmmm........Billionaires everywhere Accumulating actual physical GOLD......
Wait for It..........................I'll continue to STACK .........Follow the TRENDS
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The saying is the real money moves from weak hands to strong hands. Keeping on stacking, it will pay off in the long run. Based on what is going on in Venezuela, where an ounce of silver buy a months worth of food and the Bolivar is pretty much worthless, I'd say the wait is worth the payoff.
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I consider that wealth protection. He and I own a lot of gold together, haha.
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I can only wish that I had a 10% of his stack. But I do the best with what I have. Kudos to you for stacking, I wish you well.
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