LOS ANGELES, June 26, 2019 /PRNewswire/ -- Public interest in Gold is showing similarities to the precious metals market last seen back in 2009, says Orkan Ozkan the CEO of American Bullion. It seems like people are choosing to be pro-active rather than re-active this time. Investors don't want to wait until a market crash this time around and the previously suppressed precious metals market is showing signs of a major breakout.
Situation prior to 2008 Crisis:
- $9 trillion National Debt
- Average Americans were buying second homes
- Personal, credit card, and student loan debt began to swell
- Home valuations are sky high
Between 2009 and the end of 2011, gold and silver prices surged 120% and 420% respectively.
The DJIA lost 33.8% of its total value in 2008 alone.
- $22 Trillion National Debt
- 73% of Americans are dying at least $60,000 in debt
- Personal, credit card, and student loan debt has achieved all-time highs
- Home valuations are once again sky high
Central banks of major countries increased their gold reserves rapidly following 2008 Financial Crisis, and lately we are seeing countries like China (1,842.6 tonnes) and Russia (1,909.8 tonnes), in particular, hoarding bullion for their Central Bank reserves.
"I remember when 'financial analysts' criticized India's Central Bank on TV, because they bought 200 metric tonnes of gold when the price of gold had just surpassed the magical $1000 per ounce number and everyone had said it was going to be an unreachable number. But that unreachable peak quickly became the ground floor," said Nevtan Akcora, President of American Bullion. "And before you knew it, we saw gold at $1900!"
The characters have changed, but the cycle remains the same. The market, economy, and dollar are on the verge of a sea change and when it happens, precious metals will once again be in position to help investors protect their assets, portfolios, and legacies. Today's still low prices are just another bonus. Whether investing in physical precious metals with cash for home delivery, or transferring funds from an existing IRA, or an old 401(k), you owe it to yourself to deal with the industry's BEST. Call the experts at American Bullion, at (800) 653-GOLD (4653), [email protected] before it's too late!
SOURCE American Bullion