Gold and silver it seems are gearing up for the next leg in their venture and despite the potential of one more leg higher I have to say this fun is coming to an end sooner than later for the precious metals. For that matter, you can add in the stock market too as well as oil. The only question for me, is it 1 week, 2 weeks or 1 month? If I were to pick one of the three I would lean towards the 2 week period as April from my years of trading experience always seems to be a troublesome month.
Futures are slightly down to 2036 after a nice run up the past few weeks. The dollar has fallen keeping gold buoyed. We may see some extensions higher in gold and lower in the dollar and higher in the stock market but the rest of the world isn’t participating. I would use this opportunity to start cost averaging out of long positions and think about going into cash for the time being, waiting for better opportunities.
The reasoning for all this thinking, as well as the future spark in gold and silver, can be found in my next book Illusions of Wealth. I can’t possibly describe all I know in one or even five entries here or articles that go into detail as to what I see. But in an over 300 page book, I can. The book, Illusions of Wealth, will be off the formatter this week and in a few short weeks be available. You can find the sign up sheet for its release announcement and be notified by going to http://illusionsofwealth.com
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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