In yesterday’s Current Thoughts I said the dollar looked somewhat overbought and I think today we hit the near term high of 98. For the Fed minutes I said yesterday; “we may get some “sell the news” that can help gold move higher,”
It looks as if gold is poised for a bounce after the thrashing it has had. Silver will follow on golds coattails for now. The dollar is still your key here but I just think we have had a nice run and now a pullback is needed in the dollar and bounce in gold before we get our one last smack down that yes, is still on the horizon.
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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
Disclosure:
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.