Melman on Gold & Silver
September 2016 by Leonard MelmanThe most impressive fact about gold’s performance during 2016 is the yellow metal’s ability to withstand news shocks, hold on to previous gains and gradually move to new, higher levels.
The most important question, of course, is when these deteriorating fundamentals (positive for the precious metals) will overcome the lengthy deterioration in the long-term trading charts for gold and silver and their associated mining shares.
Some financial commentators have speculated that bitcoin and other virtual currencies have captured a portion of funds that would have been invested in gold. I find it a bit ironic that people who invest in precious metals would even consider another fiat currency.
With conventional financing still difficult to obtain, it is little wonder that “self-financing” is the number one form of financing used by small business owners, miners and prospectors.
Making it even semi-permanent allows any business that spends heavily on equipment, machinery and other business property to reap large, up-front tax breaks.
Well, by the time this issue hits the newsstands or your mailboxes, the New Year of 2013 will be upon us, and it seems worthwhile to take a look at important recent trends that are likely to extend into the coming twelve month period.
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