Gold is a bit higher in Asian trading and we have had a run lower because of the dollar breaking out to a 13 year high. Right now though a little weakness in the dollar off those highs. We need the dollar under 101 at this point to have a little run in gold. Otherwise $1,200 is the line in the sand for gold and under that a bigger line at $1,180.
For me it is all about the dollar still, and we are in bounce territory for gold so lets see what strength this bounce has if in fact we get continuation by the time U.S. markets open.
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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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