We have had a topsy turvy ride in gold of late but it can’t break below the $1,200 mark. And at the same time the dollar can’t break above its closing low of 100.59 set in 2015.
We have a ton of economic data coming out Thursday morning that should set the tone for the next week. Gold is up slightly now with the most recent dollar failure after a very nice move to the highs. This is a Triple Top and I wrote about it in a Seeking Alpha article here:Triple Top In Dollar Paves Way For A Gold Bounce
Jury is out on what will happen next till after the data. Buy the dip in gold is always good advice with a dollar cost average approach. We’re not quite ready for the deflationary contraction yet. I address that in my article.
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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