Gold is still struggling hitting some lower lows as it approaches that magic $1,300 support area and decides whether or not it wants to move lower. With the problems in Europe with Deutsche Bank (DB), and a Euro that is feeling the effects of the repercussions of other banks being affected by DB’s shenanigans. I don’t think the press is giving it enough attention and Germany’s Merkel says she won’t help out at all.
This is the price I am looking for to be broken and see if there is an escalation of the credit contraction I see coming (and mentioned in my interview below). All the signs are there. We just need follow through.
For those that didn’t hear, I was interviewed on what I thought about the markets, gold, politics on Sunday here: Financial Myth Busting Dawn J. Bennett
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
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