Broker: Buy Gold At Any Price And If You Lose, Blame 'Them'

Ton of Gold

In an interview with Hard Assets Investor, gold bullion and numismatics broker Andrew Schectman believes you should get into gold at any price.

Act fast, because supplies are limited and current offer prices won’t last long:

Hard Assets Investor:

[Emphasis added] It was not uncommon back in 2008 for me to say to a client, “Listen, I’ll lock in your order, but you’re not going to get any product for at least two, maybe three months.”

The availability of product to me is the key to understanding the importance of buying gold and silver now, irrespective of what the price is doing, because since October 2007, the U.S. Mint has been the model of inefficiency.

I think by the time people realise what’s going on, it’s my opinion that it will not be a hugely escalated price that will be the hindrance to them getting into the market, although that might attract their attention. But the main hindrance will be the lack of availability of refined product.

Moreover, should the price of gold unfortunately fall, it’s ‘their’ fault:

I do believe they realise they can no longer manipulate the market, and instead, I think they’re trying to organise an orderly retreat. As a result, volatility is something that is to be expected. And it really frightens most of the public out of the market. It is not unusual to see gold run up, suck in all the speculators, and then they hammer it.

But prior to that, they had these super-low interest rates in order to stimulate the stock market and housing market, as we’re losing all our manufacturing base, to keep things looking strong. … So they smashed it so much that it enabled the interest rates to be super low, and it kept people investing in our dollar-based instruments.

So if they’re powerful enough to manipulate the price of gold and violate antitrade laws, then they’re probably powerful enough to tell the media to be quiet.

As Mr. Shechter makes clear, it’s a shame gold prices depend completely on what other people think, rather than need. Else you’d simply be getting more productive assets every time their price fell.

Read more at HAI here >

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