Precious Metals Trading
Chapter One
What's
All the
Fuss About?
THE LURE OF PRECIOUS METALS
"Good as gold," "silver lining," "platinum record"-these familiar expressions
are all references to supreme value. It is not a coincidence that precious
metals are interwoven into concepts of value, good fortune, and
accomplishment. Examine each metal, one by one.
Gold
See it. Hold it. Move it from hand to hand and bring it up to the light. If you
have ever seen and held an ingot of pure 24-karat gold you know it is not
just a commodity. There is something fascinating about this metal. I believe
it truly has mystical powers over human emotions. When I was 12
years old, I visited the Federal Reserve vault in New York City to see the
so-called backing for the U.S. currency. Gold and silver were still linked to
the money supply. It was illegal for private U.S. citizens to own bulk quantities
of gold. There it was. Bricks of gold lay before me in absolute glowing
splendor. I was excited. I was moved! After all, I was being raised on
stories of pirates and treasure rather than Bevis and Butthead or South
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