Having watched many Olympic Games over the year, investor Hugh Honey is confident that Bronze will be the next commodity to boom following recent rallies in Gold and Silver prices.
So confident is Honey, he has taken out various loans to hire storage spaces and filled them with the metal having stockpiled Bronze while it is trading at USD $1.79 per pound.
Although it still has some way to go till it reaches the value of Gold which trades at $1,800/lb and Silver which trades around $26/lb, Honey knows a trend when he sees it.
“Gold is very expensive at the moment and all you need to do is look at the Olympics to see what happens when you can’t get Gold? You settle for Silver,” said Honey.
“And then if you can’t get Silver, you settle for Bronze.
“We’ve all seen the Silver rally so it’s only a matter of time until everyone piles into Bronze at the low price.”
The investment theory from Honey comes amid a 58% increase in Gold over the past five years where Silver has followed suit to rise 81% in value over the same time.
While Bronze, which is classified as a scrap metal, has not shown the same promise or scarcity, Honey is confident that the $10,000 he is spending per month to house his recently-acquired Bronze stockpile will be worthwhile in the long-term.
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