A report from the Russian news agency Interfax last week reveals Russia’s plans to substantially increase its precious metals reserves in the coming years. The report states that Russia’s State Fund plans to acquire gold, silver, platinum, palladium, and gemstones. Russia’s decision to add silver to its reserves distinguishes it from most other central banks, which have largely focused on accumulating gold while overlooking silver. Along with several other bullish factors, Russia’s silver purchases could be a key driver in pushing prices to $50 and beyond.
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Couple of things I’ve noticed in my life and time as in investor… As soon as you see articles all over the place talking about how this, that, or the other thing is assured to happen, it won’t.
Silver has been the red-headed stepchild of precious metals since forever, and every pundit out there has claimed its poised to explode ‘to da moooooon!’ And this time it’s always different, too.
Don’t believe it.
I’m not saying it won’t go up, won’t explode, I don’t know what’s going to happen. But I do know the instant everybody and their dog is certain something is going to happen, you want to position yourself for the opposite.
What’s MOST likely to happen, is a decrease in the relative value of the USD on the world market… so it will be reflected by higher prices (in federal reserve scrip) of tangible assets like PM’s, food, energy, etc. Don’t forget we opened Oct. up by going a few hundred trazillion dollars in debt in one day, another new record… Silver isn’t changing value, the stick you’re measuring it with, is. A spike in PM prices is more indicative of a loss of value in the USD, than anything else.
It always has been a measure of how worthless your fiat is. An ounce of gold does not change over the years, your paper dollar literally decays.