Then, in a sudden turn on Aug. 23, gold dropped for the first time in seven sessions in New York as some investors sold the coveted precious metal. On the morning of Aug. 23, gold was back down around $1,800 per ounce. Silver gained luster, up 2 percent at $43.34 per ounce.
According to Bloomberg News, gold has been up about 16 percent in August, and the precious metal is headed for its best monthly performance since September 1999.
“Gold’s climb past $1,900 has pleasantly surprised most of us in the market,” said Ed Martin, CEO of Hunter Wise Commodities, a precious metal wholesale dealer firm in Las Vegas. “We’re not surprised to see gold dropping a bit as investors go bank some of their profits. Even though gold has slightly fallen, we strongly believe this is a great time to buy gold and other precious metals.”
Bloomberg News reports that gold is in its 11th year of a bull market, identified by steadily rising prices. This is the longest winning streak for the precious metal since 1920 in London.
“Why is gold performing so well? Because of the perfect storm of slow manufacturing growth, falling home sales, and seemingly endless debt in the United States and Europe,” explained Martin. “Investors want to diversify their holdings away from equities and some currencies.”
Martin added that bullion has reached all-time highs in currencies across the globe, whether measured in Euros, British pounds, Swiss francs or dollars.
Hunter Wise Commodities believes that while the forecast for gold is very bullish, people should consider entering the market as gold and silver independent dealers.
The Las Vegas-based physical commodity wholesale dealer has opportunities for independent dealers who are already involved in the commodities industry, as well as support for those new to the investing industry who want to become gold or silver independent dealers.
Hunter Wise operates with a strategically designed business model which provides its independent dealers with opportunities for multiple revenue-sharing and profit centers.
Profit potential is further enhanced by the fact that independent dealers are provided with the means to “short” the market.
Additional information about breaking into the precious metal market with Hunter Wise Commodities’
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About Hunter Wise Commodities
Hunter Wise Commodities, LLC is an affiliate of Hunter Wise Financial Group, LLC. The wholesale dealer specializes in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. The company’s corporate headquarters are in Las Vegas, Nev., with additional offices in Irvine, Calif., and London, England. For more information about the company, visit http://www.hwcom.com/