The gold market has recovered most of its ground after Friday’s sharp selloff, and while the precious metal is expected to see further volatility in the short term, one investment firm believes its long-term uptrend remains firmly in place.
In his latest research note, Adam Turnquist, Chief Technical Strategist for LPL Financial, said that in the near term, gold looks overbought and vulnerable to renewed selling pressure that could push prices back to support near $2,800 an ounce. However, he added that in the long term, even as it pushes to $3,000, the precious metal is still relatively cheap.
“On a relative basis, when we step back and compare gold to the S&P 500 over the last 30 years, bullion still appears cheap to the broader market,” he said in his note. “This ratio chart — used to define relative trend strength and direction — has started to form a potential bottom and is back above a rising 12-month moving average. While we are not advocating for investors to rotate from equity markets to gold, we do reiterate our positive view on precious metals, a view we have held since last spring.”
Turnquist said that a weaker U.S. dollar should also support gold. Although the U.S. dollar index is trading around 107 points, it remains down from last month’s multi-year high.
“Last week’s breakdown in the dollar could be another tailwind for gold and the broader commodities complex,” he said. […]
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At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
