Last night around midnight eastern the President held one of the most anticipated news conferences of the last 2 decades. Tonight, I can report to the American people and to the world that the United States has conducted an operation that killed Osama bin Laden, the President said in his opening remarks.
Last night ended nearly 20 years & four US Presidents efforts to cut Osama off as the head of Al-Qaeda, a terrorist organization responsible for the murder of thousands of men, women, & children. There was rejoicing in the streets of Washington DC & New York, with thousands showing up to celebrate death of the face of global terrorism. News outlets covered celebrations into the wee hours of Monday morning.
The news was also celebrated by the major global markets moving forward many reaching to new heights. This being perceived by many as the final victory in the War On Terror, also led a sharp decline in both gold & silver.
Whether or not this is the end of the war on terror, it is not the end of the bull run in metals. While this is good news on the global terrorism front it does not remove the other forces on metals. We still have inflation, two conflicts ongoing in the middle east, not to mention the civil war in Libya. Also the devaluation of the dollar and finally the buying power of the emerging markets in China & India. These will continue to push gold and silver to new heights.
So, what is the take home from today’s news? Be prepared! When events like this happen in the future remember it will retract metals and make a great time to buy. Purchase today while the markets have retracted before they continue forward.
Finally, thank you to all who served in the War On Terror. It is by your sacrifice we are privileged to continue exercising our freedoms of Life, Liberty & the Pursuit of Happiness. Thank you & God Bless!