Gold closed this week at $1952.96, a $10 increase over last weeks close, as it was revealed that China resumed buying Gold from Switzerland in August in a big way! See chart below courtesy of Forex Live
India's imports are also up over 171%.
Both nations are notorious for buying Gold on the dip, ahead of significant increases in value.
Here is a chart that shows you the increase in Gold's price. Year over year, we are currently up 30.14%.
Silver closed this week at $26.87, 2 cents higher than last weeks close.
Here is a chart that shows you the increase in Silver's price.
Year over year, we are currently up 50.59%.
For those who purchased 6 months ago, as I recommended, you are up over 121%!
The reason for buying Gold is simple.
A $10 bill in 1971, had a purchasing value of $1.61.
But...
$10 in Gold (.286 troy ounces) purchased in 1971 would have the purchasing power of almost $565 today.
That is why Ray Dalio, manager of the largest hedge fund globally, recently said 'cash is trash' and recommended a long term holding in Gold instead. Read More here>>>
