Wall Street and their friends in the Big Media have been having a field day since March.
You’ve seen the stories: Big Tech companies such as Amazon.com Inc. (AMZN) up 60%, Hertz Global Holdings Inc. (HTZ) more than tripling after filing for bankruptcy protection, airline and cruise line stock swinging wildly up and down…
All great stories to make you jump in head first, trade without thinking, and make your broker a lot of money while you’re at it.
One story they tucked “below the fold” has been the meteoric rise in precious metals.
Silver and especially gold have had a stellar year. The SPDR Gold Shares (GLD) ETF, probably the easiest way to invest in gold, is up over 18% this year.
If you bought it at the March bottom, you’d be up twice as much.
It’s been years since we saw that kind of move in gold.
Of course now that it’s up so high, Wall Street is starting to talk about it, ads for gold are everywhere on TV, and Robinhood traders are piling in.
In the long-term, they’re right. Gold and silver will keep rising.
But don’t join them. At least not yet.