When opportunity hits top performers step up. Enjoy the impressive story of the most successful online investor. Learn why millionaires bet on gold.
As the pandemic shattered the stock market, some people started wondering whether gold is not due for a downturn. Indeed, it was. Last week gold price fell more than 2 percent, with the new hopes of a recovery from a coronavirus-driven economic recession.
For many who have bet big on a stock position, a decline triggers a STOP reaction. For Derek Thomas, the dip in gold was an opportunity to buy – and buy he did, without hesitation.
‘’A top performer is someone who can recognize opportunities, where everybody else sees a risk. That is what I did! I took advantage of a dip and earned pretty good profits.” Derek Thomas
In such circumstances, investors would pull back and wait, Derek took the chance. For him, gold has been the first choice and one of the biggest profit generators.
‘’Having been in the online trading business for more than 10 years, I have learned that gold is profitable, even during economic crises. Of course, I am investing in stocks and currencies, but more than 35% of my portfolio consists of gold.’’
Gold has been valued throughout human civilization, Derek explains.
Global demand for jewelry was down 29% in the third quarter of 2020. It was mainly the pandemic that triggered the drop.
However, gold has been highly sought after for thousands of years across cultures. Today the demand for gold jewelry is strong in a lot of markets, despite the pandemic and its effect on the economy.
‘’You can count on gold holding its value, even if a global recession tanks jewelry demand in the short term.’’
Though the years, Derek has earned profits from online trading. Starting as a newbie, he did not know what online trading is. Today Derek is one of the most successful investors and a trading coach.
”Do not get discouraged by a drop in prices. Remember that in online trading profit opportunities are there, even when the prices slump.”