Gold and silver are opening up flat in Asian trading with other metals lower and the dollar is down 12 cents.
After a Fed week where gold moved higher on nothing new from the Fed, gold is trying to figure out if it wants to move higher or lower and so far hasn’t pushed below that $1,300 support level. The dollar will still be the key to watch but Friday we saw gold higher and mining stocks lower with the overall market.
The markets seem toppy and are just waiting for some news to break down. That news may come from China or Europe via their banking issues.
Being range bound while the markets figure out the Fed is what’s going on. Everything is in line with higher prices in the future. That’s a given. But if Europe or China cracks and there’s a mad dash for the exit, and you read my book Illusions of Wealth that describes how it could unfold, you’ll know how to prepare.
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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