Why I’m still buying gold (and silver) after a 10-year bull run

Date: September 21, 2011

Reporting From: Auckland, New Zealand

[Editor’s note: Tim Staermose is filling in for Simon Black today]

We’ve written before here at Sovereign Man that as long as the public is not in precious metals in a big way, it’s hard to see that the market has begun topping out.

Yes, gold has been in a bull market for more than 10 years. This is virgin territory as far as bull markets go. And yes, gold is up about 6-fold, from under $300 to hovering around $1,800 an ounce.

But, in every corner of the world it seems the public at large are SELLING, not buying gold. Between the two of us, in our travels over the past 12 months, I think Simon Black and I have pretty much covered the entire globe.

Everywhere we go, we see pawnshops, jewelers and new specialist gold-buying companies, set up to buy scrap gold from the public, doing just that.

I’ve seen it in the Philippines. I’ve seen it in Australia. And just today I saw it here in Auckland, New Zealand.

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via Why I’m still buying gold (and silver) after a 10-year bull run | Sovereign Man.

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