I’m putting on my short term bull hat for gold and silver. At the end of yesterday’s report I said gold is moving up while the dollar is up for 2 days and showing some strength and that I have to lean long. It also didn’t break the $1,050 close level which was also bullish. Silver is moving at snails pace right now. Volume is low it seems and needs to catch more of a spark.
Not sure how big of a bounce we get here but I do like that we are bouncing while the market overall is tanking.
Interest rates are falling a bit and volatility spiked overnight with gold but fell back the rest of the day while gold finished slightly down from the highs.
All eyes on the dollar right now to see if we get a move lower to help support the gold bid higher.
I am working on a transcript of yesterday’s interview by CNBC of former Dallas Fed President Richard Fisher. I notice that CNBC edited out some of what he said but I have the complete video. Still trying to find a better copy though, unedited. It is quite revealing about the Fed and the “wealth effect.” I will explain more tomorrow. You won’t be disappointed and it does agree with what I have written in my forthcoming book.
Related posts
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
Disclosure:
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.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.