As I write, investors are fleeing from the eurozone crisis in droves and taking refuge in the dollar (of all places). And that reality has the greenback rallying.
You couldn’t ask for better news if you’re looking for long-term gains from gold. The prevailing strength in the greenback is exactly what you want to see.
Yet most investors keep making the same big mistake.
They use short-term thinking when they should be thinking long term. And that’s precisely the issue with gold.
With the dollar rallying and gold declining, investors’ instincts are to cut bait and run.
Don’t be fooled by what the price of gold is now.
If you’re a long-term investor, you should actually be beaming with delight as the greenback ticks higher and the metal moves lower.
As you know, gold’s value is based on the idea that it’s the ultimate safe haven from paper currency debasement.
But that’s exactly where the opportunity lies.
Sure, the dollar might look good now, but the U.S. Treasury is set to print more money this year, not less. And it’ll print more every year for another decade or longer – just to cover interest costs on the current deficit. The same goes for the eurozone, but at an even faster pace.
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All this printing press madness will create a slump for the dollar (and probably the euro, as well), resulting in higher commodity prices.
Yes, gold could go down more from here. But once the dollar reverses course, the rebound in gold may possibly be the biggest market move in any sector this year.
That means now’s the time to buy both gold and gold stocks at much lower prices. Because once the shift happens, the current opportunity to play gold on the cheap will vanish in a blink of an eye.
The problem is, most investors enjoy buying stocks and commodities only when they’re moving higher and they sell when prices are declining.
Don’t make the same mistake. Instead, focus on the long-term benefits of entering a gold position now, ahead of the coming reversal.
The bull market for gold is all but inevitable, you just have to go the distance.
Bottom line: Corrections are painful, but they offer amazing opportunities for those who have conviction. Stick with yours and long-term trends in gold will have you thanking your lucky stars that you did.
Ahead of the tape,