Gold is really finding it hard to make up its mind these days, but I noticed with some good data today, they couldn’t knock it down too much. I think it is hanging in there and with the dollar not going positive today it is a sign of a possible short term bounce. It’s mid-range now between 99 and 98 and I have to lean with the dollar falling below 98 now, especially if we get a GDP number Friday that misses. Seems to me to be a Perfect Storm a brewing, and the markets are poised to fall as well.
But here is the caveat I have to throw at you. Will the market be allowed to fall before this Presidential election is over with? I’m not a conspiracy guy, but the DOW somehow manages to stay over 18,000 on a closing basis. Every fall in futures is bought up. There is no real momentum lower. Just an observation.
Maybe we have to wait another couple weeks to learn the truth.
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About Doug EberhardtDoug 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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