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.
Doug 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
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.