With my Subscribers for the ETF Trading Service, I put out a report yesterday morning that the price of gold could fall when Asia opened up and it is down $6 at present. The dollar has shot to a higher high at 99.50 which should be concerning for gold bugs, especially those like Peter Schiff who continually bash the dollar and push gold and gold miners on investors. In fact, those who were part of the ETF Trading Service made as much as 25% on the last 1/4 of shares we held on Friday and I put that article live out to Seeking Alpha on Sunday morning. The problem is, they haven’t posted it 9 hours later (so far as of 6:22pm PDT).
I don’t rely on anyone else to tell me what’s going on with gold and silver. I tell it like it is. But we are getting closer to a top on the dollar and I would be cautious with longs right now.
Related posts
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.