Were just not quite ready for blast off on gold just yet. The dollar was falling when gold was moving up and that low it hit today at 89.39 might have been it for now. This has been about as slow a move as possible for gold to get going and each time it hits this level, it fails. Rather frustrating for those who want the move now, but gold and silver buyers will have to be patient. This year will be up and down and I still believe a deflationary crash by October, then we’ll be off to the races. In the medium term into the summer, I do see a rise, then that fall into October. In the micro term today was probably the high for a bit and one more move lower possibly before we finally break that 1377 level. Trapped a few more bulls today I think. Dollar down -.10 presently to 89.48.
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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