22
Feb

Current Thoughts 2/22/2017

Gold and silver started the day breaking lower and especially the miners, and once the Fed minutes were released, shot up higher. Metals are going to benefit from a possible weaker dollar now so we’ll let that scenario play out thanks to the Fed and I think Donald Trump putting some pressure on them. Why else would they mention a weaker dollar? Yellen wants to keep her job!

Silver has been a little more resilient than gold. It isn’t falling hard on any of this dollar strength we have had and it leads me to believe that both gold and silver could indeed take off for a bit here, barring anymore issues out of Europe.

In fact, during the day today the dollar got hit with a move by one of the French Presidential candidates to back someone other than the leader LePen who isn’t a fan of being part of the European Union. So many issues in Europe right now but we’ll take any strength the Euro can find and stay long gold as the dollar heads a little lower. Need to get dollar under 101 first, then under 100 and stay there for a potential run to $1,300.

After $1,300 we have to see where this potential deflationary credit contraction takes us. I see in the not too distant future a bullish dollar returning so it’s all about timing.

 

Go To Buy Gold And Silver Safely Store
About Doug Eberhardt

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

Disclosure:

Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.

All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.