An Interview with Mukarram Mawjood
So recently we got into the basics of metal trading with Mukarram Mawjood, our head trader here at Bullionite and Blackstone Commodity Group, but I had so many more questions for him I thought we would set up another interview to really get into gold and COVID and where he thinks things could be going. For those watching the markets, you will know that gold has been performing very well. Of course this is to be expected, when the world is in a place of uncertainty, metals tend to go up. Investors long for hard assets in times of trouble and if there is anything to label 2020, it is definitely times of trouble. Without further delay though, here is Mukarram with what he thinks could happen for gold as we approach the November US Presidential Elections and the COVID-19 vaccine.
Q: Thanks for joining me again, Mukarram, after our last interview I was super excited to get your thoughts on what you think of the gold market right now. So tell me, is it too late if I wanted to get into gold right now?
Mukarram: No, it's not too late. I know the gold market is really, really high right now, but we just had a correction and I suspect gold will go for another run and in the end many are anticipating it will go to $3k an ounce, breaking this just recent record breaking record.
Q: How is that possible!? Gold has never been that high! You aren't worried about the high already being met?
Mukarram: No, I don't think we are there yet. You see the thing about markets is that they don't care about emotional responses. We as humans, we are emotional beings and we want to react to the emotions we feel around us, but not the markets. The markets are always in a state of being in the present moment, it is why I think mindfulness exercises are so important for traders. But yes, markets do not have an emotional response.
Q: Ok, so that makes sense, but I don't think I have ever seen such a rise in prices?
Mukarram: Sure you have! Maybe you weren't following gold back in 2008, but I have been trading a long time and I remember when gold went up nearly 300% between 2008-2011 from $685 an ounce to $1925 an ounce. Silver also did insanely well that time, going from $8.50 an ounce to $49.50 an ounce a 400% growth! It was amazing!
Q: Wow! So when this happened back in 2008, what was the cause then?
Mukarram: Well I don't know if you remember back then, but there was a huge mortgage crisis. Banks were just giving mortgages away and people were getting stuck. All of the foreclosures caused a ripple effect in the economy and the stock market fell and we had our Great Recession. If you weren't diversifying your portfolio in hard assets like metals, you probably suffered a great deal back then. But if you were being smart and diversifying your portfolio, you probably saw some of your losses balanced out.
Q: I had no idea metals could do that! So we have already seen growths like this before?
Mukarram: Yes! And I believe we are just starting to see the growth. This run has only been a 40 to 50% increase so there is more room mathematically. What's more is that silver just started a few weeks ago and will also have a great run.
Q: So this is all being caused by COVID-19?
Mukarram: Much more than just COVID! We have so much uncertainty right now. The US election was in November, a growing trade war with China, AND COVID. We have a lot on our plates right now. The global crash that could come from COVID alone was enough to make effects in the gold market, but all of these factors combined really makes for a perfect storm for a great gold and silver bull run.
Q: So, I am not too late if I wanted to jump on the gold and silver train?
Mukarram: Definitely not too late. You can still see a great investment opportunity in gold and silver if you wanted to get into either of these markets now.
Q: Ok, so what's next? What would I do if I wanted to get in on this?
Mukarram: Well the thing I would recommend is to set up a phone meeting with me or someone on our team at Blackstone Commodity Group. We will go over your lifestyle, financial and goals to create a custom plan for you. You can setup your appointment by emailing info@blackstonecommodity.net
Q: And if I worked with Blackstone Commodity Group, how would this be different from another company?
Mukarram: We assist you in the buying and selling like everyone, but we also give you continued education about the markets. We will send videos, articles and webinars from our traders that offer market analysis. We are huge on education here, we are not just a custodian that purchases and helps store your gold but a full service VIP treatment.
Q: Wow so that is really amazing! So it is just a simple email to get the ball rolling in investing in precious metals? That is great for the busy schedule. Speaking of busy schedules, I know you have to go so thank you so much for taking time to talk to me again, talk soon!
If you have any questions you want to see answered in a future interview or in general, reach out to us at info@bullionite.com!