Hey Gold Bugs! The Dollar Still Matters!

Many readers may not know I write articles for SeekingAlpha.com now and then. Presently I am ranked #10 for the Gold and Precious Metals Category. This really isn’t a bad ranking, considering I have only written 5 articles on the site the last 3 months. There really is no need to write articles about gold and silver every day, like some in the top 5 rankings. Gold and silver investors should look at investments in metals from a macro, long term point of view. The unsustainable future of debts and deficits will take care of future price appreciation of metals, but the dollar is still key.

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The following is an excerpt from my latest article, written 2/21/2013 where I conclude:

A bounce followed by a further pullback in gold breaking to fresh lows is on the horizon. Market Makers like to make investors scream UNCLE, if they can. They will move the price higher over the short term with the goal of getting new investors to think the bottom for gold prices is in (especially those who buy on margin), and then pull the rug out from under them, slamming the price lower. I have seen this pattern 100 times. Eventually, a bottom will be put in, and I will attempt to call it.

Europe is a mess. The dollar should benefit.  This will still pressure gold and silver prices. We are seeing the beginning of that bounce this week. Stay tuned.

The link to the article is here: Hey Gold Bugs! The Dollar Still Matters!

NOTE: I have stopped writing articles for Seeking Alpha because their editors are extremely biased against gold and silver as an asset. I can’t respect that.

 


About Doug Eberhardt

Doug Eberhardt is a 25 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