Today we saw the dollar move higher and gold move lower with silver after the opposite occurred yesterday. Nothing moves in straight lines but we have to figure out whether this weakness in metals will gain momentum again or not. Luckily we have the dollar to tip us off.
Overnight we have the ECB interest rate decision that should keep things just where they are. Tomorrow we have Initial Jobless claims with a 265k number expected. Natural gas storage change along with Crude oil as well along with Consumer Credit Change.
For whatever reason it just seems like the markets are waiting for the next crisis to hit. We don’t know where it will come from but my guess will be China and they have the trade data overnight that could kickstart some action in Europe and into the U.S. markets tomorrow.
The ECB rate decision isn’t expected to surprise anyone but perhaps Draghi can stir their pot up a little too.
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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