The gold market overnight did go higher but spent the rest of the day crashing as the dollar soared back up to 99 again. While the dollar did pull back some, gold and the miners decided they would just continue falling. Gold is down to 1258.40 but silver ironically didn’t wan to join the fall and is 18.61 and stayed higher. Remember, when the news first came out that Trump was going to win, silver didn’t rise as fast as gold so now it’s not falling as much as gold, but is off its highs from overnight. The dollar is still the story.
Market did do better as predicted but might also be getting a little toppy heading into Friday. Enough with the Republican sweep hoopla already. Some reality needs to set in and soon.
Platinum was very weak today but palladium joined gold lower.
Will this be the double top for the dollar and rise from the ashes again for gold? We should know soon. Dollar needs to stay below 99.08 for that to happen.
Doug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
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