Hey, guys, we’ve got a deep analysis today of something I’ve been admittedly bullish on. That something is gold, and I want to take a look at whether or not you should invest in gold in 2021.
Gold has been a hot topic the past few years, and especially so during this coronavirus pandemic.
If you recall, WealthPress Head Trader Roger Scott and I were very high on gold as one of our safest plays in 2020. Is that still the case? Is it still safe to invest in gold in 2021?
In the short term, I’m going to say no. I do think that gold will come around, but it could be in for a very rocky few months.
Last year, gold was one of the few things we felt we could count on. In the summer, it made a huge jump. Traders were in defensive situations and, in an attempt to keep the economy afloat, the Federal Reserve began printing huge sums of money.
Right now, that money printing is continuing and the Fed is expanding their balance sheet. The last time we saw such a big expansion was in 2006, leading up to the Great Financial Crisis…
Looking back at those charts, I could see gold breaking down to a level below $1,800 or even $1,500… Even today, we’re below the 200-day moving average.
Except, people are looking at investing in gold in 2021 as another way to protect their assets while we wait and see what happens.
I’m not so sure that’s the way to play it.
I do think that gold will bounce back and I’ve always been a long-term gold kind of guy, but maybe not in the short term right now…
Check out my video below as we take a deep dive into whether or not you should invest in gold in 2021. I also provide you with some alternative strategies to protect yourself this year.
Feel free to email me your trading questions at firstname.lastname@example.org and make sure to subscribe to my YouTube channel.
P.S. Let’s face it: There’s a lot going on in our country right now. In the political landscape alone there’s been a lot happening.
Meanwhile, unemployment numbers are still high and the coronavirus continues to ravage many parts of the nation.
It’s enough to make any investor nervous.
So, we’d like to help you through this uncertain time by giving you a trading strategy that works regardless of which direction the market’s headed.
Considering the current political, social and economic climate, it couldn’t come at a better time.