I don’t know about you, but the sale of precious metals have dried up with this latest turn down in the price of gold. Normally there would be more buy the dip investors but I think many are in a wait and see mode.
We may not have to wait long with the BoJ decision tomorrow that can shake things up along with the Fed on Wednesday.
Today we saw the metals move up with the dollar moving down and a bounce in the dollar late in the day brought metals down a hair. I actually expect the opposite to occur tomorrow as market makers are just having fun. They did the same thing to the stock market today without news. They brought it higher over 100 points for the DOW and then pushed it lower negative, and it went green about 40 points again and ended up negative by less than 5 points. Fun day for them!
Will gold break $1,300? The dollar would more than likely have to break 97 for that to occur.
We’ll see what tomorrow brings!
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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