Recently I had an interesting discussion about the projections for gold and silver for 2017. The point of contention was Martin Armstrong’s projection for gold at $ 5000.00 in the next up cycle. The experienced trader did their utmost to convince me that gold will got to $ 50 000.00 Yes, $ 50 000.00 You read that correctly…
I couldn’t help thinking how this absurd price target might set one up for failure. Greed and fear of missing out are powerful trading incentives. They do not allow for any other possibilities to develop. Of course, the universe does not work like that: Traders and investors alike have a hard time grasping the fact that the universe is a place of infinite possibility where everything is changing all the time.
Even the most elegant mathematical projections can never reflect the future accurately. The future cannot be known by us. Yet 99 % of all traders and investors behave as if they have a crystal ball.
Projection is simply a snapshot of the collective consciousness in the present moment.
With that in mind let’s look at the practical side of gold and silver investing:
The apparent scarcity of the metals is a myth. Our minds love a good story, and the 6000 year old history of the magic of gold and silver provide the perfect platform to exercise this desire.
Our untrained minds embrace the emotions attached to gold and silver with alacrity, often to the detriment of their trading accounts.
Will gold and silver see a resurrections of its fortunes in 2017?
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