The Bottom is In on Gold and Silver!

18 Jul

The Bottom is In on Gold and Silver!

Precious Metals at Cost of Production? The Time to Buy is Now!

The correction in gold and silver that accompanied the panicked selling of stocks, bonds, and crypto-currencies this year is over, says Jim Clark, CEO of Republic Monetary Exchange.

“Both metals have found a bottom in this range,” according to Clark.  “Gold at $1700 and silver at $18 an ounce.”

Those levels represent the cost of production for the metals, he says. 

“You can go out at dig and try to find gold and silver, recover and refine them, and then mint and transport them at that price,” he says.

Jim Clark, CEO, Republic Monetary Exchange

“Or you can buy them at these prices with all that work already done for you.”  

Clark notes that the cost of mining has gone up.  “Mining is energy-intensive,” he notes.  “Higher fuel costs mean higher costs of production for both gold and silver.”

As often happens, according to Clark, Wall Street and other speculators sold gold for the cash they desperately needed as the stock and bond markets collapsed this year.  

“It’s a pattern we’ve seen before.  We’re confident that the global factors that drive precious metals higher, including war, government debt, and fear of recession are in place and that with the rising cost of production, both gold and silver are in an especially attractive zone for buyers,” he said.

With more than fifty years in the industry, Clark is one of the nation’s most experienced precious metals traders.  He is the founder and CEO of Republic Monetary Exchange in Phoenix, AZ.