Melman on Gold & Silver
July 2018 by Leonard Melman
There is one last indicator that I believe may be the most important of all. That is the “Index of Leading Economic Indicators” (LEI), which is a compendium of those economic indicators that point toward future growth, and LEI has just reached historic highs, far exceeding previous peaks in 1999 and 2006.
Occurrences such as these have proven, time and time again, that gold possesses the attribute of maintaining significant value over time, something that cannot be said of unbacked, fiat paper money where every such issuance has eventually deteriorated throughout history into virtual worthlessness.
It may be no exaggeration at all to state that the past thirty days have seen a collection of headlines that could affect the world profoundly for years to come.
Recent reports could be pointing toward a genuinely important change in direction for the American economy and it is a change that could be positive for the precious metals over time.
While gold’s chart has recently confirmed its short-term negative trend, the intermediate trend remains neutral while gold’s long-term chart is beginning to show some positive indications.
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