We have been waiting patiently for the USD/JPY to break down and it finally did today. Breaking under 114 is the key number and confirmation of the gold bull is under 113. You’ll notice silver finally rebounded today too after taking a good beating.
Tomorrow we have Yellen testifying. I’m not sure what she can say to keep the investors confident in the market but she can’t hardly talk up interest rates like she used to. The market might have issues with her testimony tomorrow and gold and silver may be the benefactor of that.
Next stop for gold is over $1,300. Taken a little time, but we’ll get there soon enough.
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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