Is it Time to Buy Gold, Silver, or Copper? -- with David Moadel
hello and welcome to looking at the markets with David Modell are you a fan
of commodities do you like gold silver copper while commodities have been
making a pretty good comeback lately and they went sideways especially
silver and gold went sideways for much of 2018 until the fourth quarter in
which we saw a nice breakout which is still underway and so is this the time
to get into gold silver or copper a lot of people forget about copper which is
the best one to get into right now well I cannot tell you what to do or what not
to do you have to make your own decisions but I can tell you what I'm
looking at right now and first let's look at a couple of fun facts just to
let you know how high they could potentially go gold reached $1,895
almost $1,900 per ounce we're talking about in US dollars of
course on September 5th 2011 boy that was a pretty good year for
precious metals right and silver reached 49 dollars and 45 cents per ounce On
January 18 1980 long time ago but it also reached about the same level 49
dollars and 82 cents in April of 2011 2011 was quite a good year for precious
metals so that just gives you some idea of how high they could go so if you
think that reaching 15 or 16 per ounce and silver is a lofty goal that's
nothing it could actually go quite a bit higher if you think 1300 is a milestone
in gold imagine 1900 it is possible it's been
almost there before alright so let's take a look at some of the charts and
these are from stockcharts.com I want to give them credit this is gold and as we
can see it said quite a run up recently after a lengthy basing process in which
it just couldn't seem to lift off from the $1200 level and then
okay is it too late to get in well I think I answered that question if you're
a long-term investor no it's not too late to get in it's been as high as
almost 1,900 dollars an ounce so it's at around 1300 now now if you're a
short-term trader it might be a little bit late because it looks like looks
like it already happened but if you're a long term if you're just gonna buy it
and hold it you can certainly still get in how about
silver kind of the same story you had that basing process for several
months and then BOOM right okay whoops there goes and is it too late to get in
well the short-term you look at all those you know green candles I mean
they're not green on stockcharts.com they're white but look all these all
these up days in a row all right I don't like to necessarily get in after such a
long term run-up if I'm if I'm a short-term trader but if I'm a long-term
investor then you know okay so it's almost at 16 but that's nothing it's
been much higher as you can see a number of times all right so it depends on your
time frame whether to get in now or not but don't forget copper copper is still
relatively down yeah and it's at what you might call a support level or you
don't have to call it support you could just call it a good price where it's
it's been there before and it bounced off of it all right
so yes it's not exactly at the bottom but it's pretty close and if you want to
talk about resistance levels or maybe just a selling price you could talk
about up here at 285 or so all right on this chart so if any of these are gonna
be a bargain right now at least in the short to medium term I would pick copper
just based on the charts all right but long-term any of these are fine all
right so it depends on your time frame as to which one you want to buy and
whether you want to buy them at all all right so I hope this was helpful to you
my name is David Modell if you like this please give it a thumbs up on youtube
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like this yeah and if you want some help with putting together a trading or
investing plan I do coach people on that my email address is right here David
Modell mo a de l at gmail.com thanks a lot I
appreciate it and I'll talk to you again soon