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  • 950 Silverado Street La Jolla, CA 92037    •    1 (858) 412-6462
    Section 1
    Closed August 10-17, Reopen Monday, Aug. 19 at 10:00

    Twitter Steals The Headlines, But Can Gold Win The Day?

    Goldbugs must remember the Facebook IPO. It was disastrous. We felt so smug with our tangible comfort.

    And now we are being sold on Twitter, which has no revenue, and doesn’t provide any products. Its service is instant communication. It’s seen as a surefire investment right alongside equities and investments. But, does this make sense?

    Twitter is but a pittance in the digital marketing world. Sure, this means lots of room for growth. But, does Twitter really deserve the same market cap as Macy’s? Macy’s has millions and millions of revenue. Twitter has none. Mmmhmm…

    In the meantime, all of the printing – and the guarantee of more printing from Yellen – ensures that there will be money to pile into Twitter. A piece of Twitter, apparently, is worth more than an ounce of silver.

    But, is it really?

    Twitter is a new invention. It is kind of like Bitcoin in that way. It has great potential to be nothing more than a fad.

    Hundreds of years of tradition can’t surely be undermined by a fad, can it?

    Although it apparently can, as we have seen time-and-time again over the last two years as the precious metals market has consolidated, it is my opinion the Twitter IPO will be a disaster, and it could send waves through the stock market with implications for the price of gold. Facebook already undermined the sanctity of stocks, and now we learn today of much volatility in the Tesla stock price. These are the poster-childs of the recent bull market run.

    And once all of this unfolds, and people realize the ability to send a 140 character message to some people isn’t worth billions, hard tangible assets will look awfully attractive in the wake of the stock market crash.

    World Spot Prices
    (Updates Every 30 Seconds)
    -1.66

    Gold

    Bid: $1,499.10
    Ask: $1,500.10
    -0.03

    Silver

    Bid: $16.91
    Ask: $17.01
    -1.16

    Platinum

    Bid: $847.55
    Ask: $852.55