Corona Virus Gold Fears

Corona Virus Gold Fears
Coronavirus fears create buying opportunities
Fellow Collectors,
U.S. stock indexes crashed again today on further fears of a slowing economy thanks to coronavirus fears. You would expect the precious metals to move the opposite direction but they too are in the tank this morning.
The reason - a move to cash. Liquidity is drying up. Big corporations are maxing out credit lines. Investors are getting margin calls. Precious metals are easy to turn into cash and in some instances are all that's left to sell.
Fear is creating an atmosphere of "get out" of everything until the dust clears.
Gold is down over $60 and silver is under $16 an ounce. Palladium lost $650 an ounce and platinum near $100.
Platinum and silver look like the biggest bargains around today. Gold is over $100 cheaper than a week ago.

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  • Nick Grovich