The number one characteristic that precious metals investors need to cultivate, when buying gold and silver as a means to preserve and build wealth, is patience.
Before buying a single ounce of gold and silver, investors must understand that while precious metals are volatile, that volatility does not have to translate into risk. Many people make the same mistake when buying gold and silver that they make when buying stocks—they only buy after prices have spiked. However, an even bigger mistake that gold and silver purchasers make is not having enough patience to benefit from the long-term trend.
Precious metals investors must understand the market into which they are buying, and realize how volatility relates to precious metals specifically. When the banking cartel engineers a rapid downward correction in the price of gold and silver despite no negative news affecting the sector (and sometimes even in the face of bullish news), they easily flush out new precious metals investors. Thus, even though the fundamentals for gold and silver remain strong, many buyers will never reap the long-term profits that are coming due to a simple lack of patience.
In Kim’s experience, 100% of people that understand the gold and silver market possess patience. Even if they become frustrated at times, they persevere and never panic sell into major gold and silver bottoms, or permanently leave the precious metals markets.
To read J.S. Kim article: The One Personality Trait That All Gold and Silver Investors Need to be Profitable
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