Seems we are stuck in nowheresville right now with gold as it just can’t seem to get going much past 1250 and especially past 1260. Silver is stuck too.
The main culprit is not just the lousy sales of gold and silver as posted earlier this week from the U.S. Mint, but rather a dollar that refuses to go under 100. We will struggle with gold until we break that barrier and break it we will.
The markets got good news today from jobs data and we’ll see if it is confirmed with the unemployment data tomorrow.
President Trump is meeting with the Chinese President so the question is also will there be something done about North Korea or will the U.S. have to go it alone in stopping their nuclear program. Trump is clearly fed up with no one addressing this issue. Personally I don’t think the leaders of North Korea are too bright in understanding that neoconservative is alive and well in the Trump administration. They thrive on causing issues around the world. The likes of John McCain and Lyndsey Graham would already have us bombing Russia if they could. So it will be interesting to see what Trump does with North Korea after this 2 day meeting and also what his rhetoric will be towards Assad and Syria.
Somehow I don’t see anything good coming from all this. We’ll see how gold responds as well as the dollar.
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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