Mike Maloney On Latest Gold, Silver Action

Back on January 20, I blogged about a discussion on YouTube.com between “crash prophets” Peter Schiff and Mike Maloney concerning the state of the U.S. economy/larger financial system and where gold fits into the equation. Well, Maloney- a precious metals expert, advisor, and author who runs GoldSilver.com- is back on YouTube with a new video about his thoughts on what’s going on with silver and gold right now, and what’s to come for these precious metals. In the July 21 upload, Maloney said:

What we’re going through right now – this huge pullback that we’ve been going through for the past few years- is something that I’ve been predicting and waiting for because- and I knew that the pullback of 2008 was not the capitulation pullback. There was a panic, people were trying to get into it, into gold and silver, badly. And this time around, there has been some capitulation. We are seeing some people selling. And it’s a shame. I think they’re going to be selling it at lows. I do expect that gold will bottom in here sometime soon. It will probably break 1,000 and go lower. I encourage you to read that Clive Maund article. But remember, that is the spot price. As shortages develop, the physical will diverge from spot. So if you’re going to buy futures contracts and stuff, go ahead and wait for that bottom. But if you wait for that bottom to buy physical, you may end up paying a whole lot more, not less. But there will also be, when that bottoms, some tremendous values in mining stocks available.


“Silver & Gold Price: The Breakdown with Mike Maloney”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein)

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