I’m going to start today’s report off with what I wrote yesterday as it seems like it is coming to fruition.
The Fed is meeting this week for another interest rate decision or as I put it, another “talk the talk” of raising rates fakeout. Some of us are tired of the Fed and I think the market will be after this meeting of the minds and telling us that everything is going to plan when since the last rate hike it clearly has not.
Is there a crash imminent in the market? Maybe.
The dollar is also set up to move lower. This can for the short term push metals higher.
The dollar got hit hard today and the overall markets fell as gold and silver both shot up. Everything going to plan as I stated yesterday.
The dollar tried and tried to get to the triple top of 100 but failed and when you fall short of a goal like that, we have to potentially, for now at least, look to the other end of the spectrum and see if the dollar will test it’s lows again. The next 2 charts paint the picture and you can bet the dollar and gold will have an inverse relationship. But from this fall we have one more leg up past 100 and that’s what I have been warning about in my book Illusions of Wealth.
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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