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Morales: Riding Gold Trend to $1,780

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  • Description

    Investment advisor Gil Morales discusses why he is a bull for precious metals.

  • Duration 3:16
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Solid gains for the price of gold actually for silver in the past few weeks -- the company from Los Angeles is -- Morales with the good -- -- selfish investing dot com.

-- -- giving -- decent credit a couple of months ago you're on the show you applying gold.

In the 15100 to -- 16100 dollar range now -- at 17100.

Are you getting Alex are you holding.

Well if you recall my last appearances on August 22 and -- when -- told -- that we had a new bicycle in both gold and silver on August 20 so we've been very heavy long gold and silver since then and we prefer silver -- -- silver right now.

And the trend is intact until and if we see gold break below 1646.

Or silver break below 3039.

-- would be sellers and take our profits.

But for now we're writing this -- and our price objective near term for gold is 1780.

Although I think longer term you can get over 2000 pretty easily.

And for silver 42 dollars although longer term I'm sitting at 58 dollar price target -- -- big price target's I know but right now the trend is intact.

It's not you'll be in -- I mean a bit before it gets to 2004 -- -- 58 bucks and so what you guys that in and out and how you -- you aren't these things but most of our viewers don't do that.

Most of our viewers will -- now and I think that there and they gold bullion buying as they bias and they hold they buying it when they think it's gonna go all over the 345 -- years old mom something that's what they did it.

Right well service you're I own gold and silver bullion and from the timing gold is trading around 300 dollars an early two thousands and I still on that so I'm a long term play -- but.

The thing is will stay with the trend as long as it's intact so right now we're operating on the basis as long as gold holds about 1646.

And as long as silver holds about 3039.

We're gonna stay with those until we see some sort of topping action and you don't cash.

Whether Mario Monti prints up a storm of euros over the Ben Bernanke prints up a budget goal dollars that's not what you look at.

You look at my friend on the jobs front.

We -- the charts for the charts tell you what's going on in terms of underlying conditions and so the underlying condition is that.

Central banks everywhere are printing money and -- gonna continue to print money I don't think that -- -- really solves anything to sterilize bond buying.

And I think -- ultimately they have to.

And I think the same holds true for the dollar night I do believe that you're going to easy to precious metals move higher and part of the truth and that is that central banks.

Have opt in 2012 they've upped their purchases of gold.

Expected to buy 493.

Metric tons of gold this year and that's up from 457.

Times last year so they're telling you they don't want to own currencies they want on precious metals and -- -- -- trend is intact so July.

Forgive me for asking the postal question if you own gold bully and -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Got a -- Alice thank you so much we'll see you again soon I'm sure I thank you sir I think there the lay.

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