LOS ANGELES, Sept. 11, 2020 /PRNewswire/ -- Augusta Precious Metals, America's leading gold and silver resource for retirement savers, announced that the company's lead economic analyst, Devlyn Steele, has assessed economic factors and declared that a Great Rotation to gold and silver is underway. Steele is known for predicting the 2008 financial crisis and the gold and silver surge that followed.
In a recent Augusta Precious Metals video message, Steele said a multitude of factors are prompting a massive shift from traditional assets to physical gold and silver, known as safe havens for portfolio owners. He noted that precious metals have climbed dramatically in recent months as both the Federal Reserve and U.S. government make unprecedented commitments to fixing the pandemic-riddled economy.
He explained that a wealth of factors – including a volatile political climate, unlimited quantitative easing, and extremely low rates on interest-bearing assets – are practically forcing retirement savers into reliable safe havens like gold and silver. "We are trapped in near-zero to negative interest rates and negative real yields," he said.
Precious Metals Super Cycle Expected to Last for Years, Steele Said
According to Steele, frustrated investors "are looking for high risk and high returns, but there's also a search for traditional safe-haven assets such as gold and silver, which offer high returns but also offset losses from volatile markets and inflation."
A member of the Harvard Business School analytics program, Steele said he's been carefully evaluating what most people recognize as extraordinary economic developments that have unfolded during the pandemic. He concluded that the nation is at the outset of another historic gold and silver supercycle that will last for years.
Steele recently updated his 36-month price targets for gold and silver to $5,000 per ounce and $125 per ounce. If gold and silver prices reach those targets, it would mean a rise in gold and silver by 150% and 350%, respectively, from present levels.
"A Great Rotation to gold and silver prices is underway, and there's no reason to miss out," Steele said. "This is a momentous event, and I want to make sure everyone knows about it."
About Augusta Precious Metals
A leader in the gold and silver IRA industry, award-winning Augusta Precious Metals' mission is to educate and empower Americans to protect their retirement and profit through true diversification. Built on generations of knowledge and experience with precious metals, Augusta helps retirement savers protect themselves from market volatility. The company's lifetime customer service has earned many high ratings and reviews. Augusta earned more than 98% five-star reviews at TrustLink.org and is rated A+ by the Better Business Bureau and AAA by the Business Consumer Alliance. For more information on Augusta Precious Metals, visit Augustapreciousmetals.com or call 800-700-1008. Find Augusta on social media at LinkedIn, and Facebook
Contact: Kyle Stewart, Press Manager, [email protected], (513) 435-2190
Gold and silver price rise into new quarter.
SOURCE Augusta Precious Metals