Dec
14
2015

Current Thoughts for 12/14/2015

By: Doug Eberhardt Category: Current Thoughts on Gold and Silver Tags: , , , , ,

I didn’t like the weakness at end of day in gold. Would rather go long when the setup is more clear. I put JDST and DUST on the one to watch list today. Not sure if we get a bounce tomorrow or not with Fed volatility in play but JNUG, NUGT as well as GDXJ and GDX did trigger red on the report.

As I said in room I have to ignore what I feel is going on and not ignore price action. That’s what keeps me from bigger losses. It’s do or die time for the miners and we might get a pop still with this being Fed week. But everyone says the rate hike is coming so that is why gold is weak primarily.
We are pretty close to a breakdown in gold but I have to see it fall below $1,050 and the next stop will be triple digits and the long awaited break of $1,000.
With the Fed meeting coming up we may just get what we wish for and I for one will finally be happy with it because we are that much closer to “all in!” Most everyone including yours truly think we get a rate hike. But yours truly also believes it to be a one and done mistake.

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About Doug Eberhardt

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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