Global markets have seen some wild trading in the past year, but today one of the legends in the business told King World News investors should now be buying gold and gold stocks to protect themselves.
May 1 (King World News) – Eric King: “Steven, these bubble markets are very reminiscent of 1999-2000 (and the capitulation in sentiment we have seen recently in the gold, silver and mining share markets).”
Steven Dean: “Yes, I agree, Eric. The probability of what you’re calling this bubble — this uncharted territory of new heights of valuation — has got to be on people’s minds. It’s on my mind. And so the smart thing is to buy some insurance (gold). Take some money off the table (in the Dow, Nasdaq, etc) and put it into a defensive sector like the gold mining sector where at worse you are going to hold value. And in the event of a disaster in the global economic outlook, then you’ve got a commodity price (gold) that’s going to respond positively to that. So therefore you’ve got some upside in the valuation of your gold stocks. But there are a couple of big differences (between the 1999-2000 mania and today)…to continue listening to legend Steven Dean discuss what to expect next in the gold and silver markets as well as what he is doing with his own money CLICK HERE OR ON THE IMAGE BELOW…
***To hear Alasdair Macleod give another incredible look at the situation in the gold, silver, and mining share markets CLICK HERE OR ON THE IMAGE BELOW.
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