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Listen to veteran precious metals advisor Tom Cloud as he explains what lies ahead for gold, silver, palladium, and platinum prices. He also explains why he believes the price of platinum may outperform that of gold in 2013.
Repatriation of gold for Germany
– The shortage in physical metals is a concern for anyone, especially in a country as astute as Germany.
– The U.S. is saying it could take up to 7 years to give the gold back to Germany.
– Germany has stored much of its gold with the Federal Reserve for convenience and safety.
Japan’s Effect on Gold
– Japan has new Pro-Business leadership in its government.
– The new leadership has vowed to implement inflationary policies to grow its economy.
– Japan is the second biggest debtor of the U.S. behind China.
– Japan could move some of its U.S. debt holdings to gold.
The Beige Book – 2012
– U.S. growth is not likely to increase.
– Quantitative easing will not stop or slow down.
– The coming debt ceiling increase will be a big influence on a rise in gold price.
– Moody’s and other agencies are waiting to potentially downgrade the U.S. debt.
– The safe haven asset will be perceived by many to be gold – causing an influx of buyers.
– With many countries implementing quantitative easing (U.S., Japan, Europe, etc) this will be a great year for the metals.
– The U.S. Mint ran out of 2012 Silver Eagles, and has temporarily sold out of 2013 Silver Eagles.
– There is a slim possibility silver could go down in 2013 due to its industrial uses.
– Tom Cloud’s Forecast: Silver will double in price within 3 years
– The price of Palladium has risen 16% since December 1st, 2012.
– I am not selling my Palladium: China car sales picking back up again, increasing demand for Palladium.
– Tom Cloud’s Forecast: I believe Palladium will hit $1,000/oz by the end of 2014
– A cut back in mines for platinum, coupled with increased demand is send very bullish signals for this metal.
– Supply side issues: Wholesalers who carry the Platypus coin will not publish a daily price per ounce, something I don’t see too much.
– Since 1970, the price of Platinum has had a premium over gold, although since the 2008 credit crisis it has dropped below gold
– Price of Platinum is now breaking out above gold
– I wouldn’t get carried away and have as much Platinum in my portfolio as gold or silver, but anywhere between 5-10% of your metals portfolio is a good place to be.
– Tom Cloud’s Forecast: I believe we will see Platinum at $2,000/oz quicker than gold will reach $2,000