[which] candidate gets the presidency in the United States. The economic and financial conditions are entrenched so deep, and so far, and so wide that we have a precious metals bull market. That doesn’t mean there won’t be some short-term iterations
, as we already experienced.â
Indeed, gold surged nearly 5 percent on the night of the US elections, and had its biggest single-day gain since June. Mere hours after â when Trump took to the stageÂ for his victory speech â the price of gold plunged to $1,302.42.
âWe had a huge percentage increase in gold that was basically washed away within a matter of hours. So that is a precursor, I think, to going back to the fundamentals. And the fundamentals are, there is a systemic problem, worldwide, based on a lie that you can print wealth. It’s been experienced through all the market places.â says Morgan. He adds that âTo preserve your financial health, you will need the precious metals at some point in your life.â
Morgan’s outlook for 2017 is positive. However, When asked about the steady increase in gold and silver prices, he said âI am more favourable to a longer consolidation period but 2017 will definitely see a lift throughout the year.â
He is cautiously optimistic; when asked about the continued rise in the price of precious metals, here’s what had to say âI was asked recently if I thought that the peak of the precious metals would be on the four-year presidency of Trump, and I said no.â
However, he does see a higher price for precious metals in 2017 as compared to 2016.
Morgan suggests that investors should diversify if they are leaning towards the precious metals, and says âand then that portion of your portfolio, which I then recommend 10 maybe 20 percent if you are a full-fledged gold or silver bull.â
Note: A full transcript of this interview will be added shortly.
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