Gold prices maintained buoyancy above $1,800 on Thursday morning, May 13, 2021, as economic woes persist amid a stuttering national economy and other signs of sociopolitical instability rage on. Gold prices bounced between $1,810 and $1,825 during morning trading, while silver prices hums along at around $26.93 per ounce, as the eastern half of the United States reels from a gas shortage due to a cyberattack on the critical Colonial Pipeline that supplies much of the eastern seaboard with gasoline.
Meanwhile, job recovery data from April yielded disappointing results, all while the housing market tightens up and prices for both existing and new housing stock skyrocket. Rockets fly over the Holy Land in the Middle East as tensions build between Israelis and Palestinians, and we can’t forget the strains between the United States and China, the latter positioning itself against Taiwan, an Asian nation the U.S. has sworn to protect militaristically.
What does all this mean for precious metals speculators? It may seem like a mad, mad, mad, mad world right now, and this is leading many investors toward the safe havens of gold and silver. Yet many gold and silver investors seem a little disillusioned… How aren’t silver and gold prices climbing for the exosphere with all the turmoil going on?
If gold and silver prices represent an undervalued buy right now, then that means it’s time to stock up and wait out the silver and gold doldrums. The world seems to be experiencing a moment of socioeconomic reckoning, all while the COVID-19 pandemic continues affecting pockets of the globe in terrifying style. And that’s not all. Back on the home front, prices continue increasing for commodities ranging from groceries to lumber; is this due to supply shortages, or are we really seeing the beginning of hyperinflation? What about industrial production? If things pick up, will demands for silver and gold go through the roof and push their prices to the brink of new records?
These are all questions the silver and gold investors must thoughtfully ask as they decide where to take their portfolios next.