Gold and silver started the day lower in Asian and European trading and kept moving higher throughout the morning. The key point here though is they are hitting lower lows which shows weakness. Watch the $1,300 level to be broken next as another nail in the short term gold strength coffin.
But what is the real reason for gold and silver falling of late? The answer is the dollar moving higher, which I have in the kindest of ways been insinuating still matters as you know I have remained a dollar bull while trying to call the micro point of view to you all.
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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
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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.
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