The Fed will make their announcement this week on interest rates and everyone knows they will raise rates. Gold has not sold the news yet but I expect it to this week. Maybe it just wants to wait for the actual announcement though. Gold mining stocks however took the Friday Unemployment report as a sign to move higher. I think miners are now going to lead gold higher. But if you really want to see a move, look at the dollar which fell pretty hard on Friday. Eventually gold will catch up to this fall and rise like it always does with that inverse relationship it has enjoyed for years. Silver too.
We also have one more vote by Congress to raise the debt ceiling and raise the debt ceiling they will because they don’t know what else they can do to pay for things but print more money. It’s worked this long, so why not keep doign what works? That is, until it doesn’t.
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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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