My leaning long in gold and silver got us higher prices in the metals today but they couldn’t break past the 1083-1085 resistance level I see. Tomorrow it’s do or die time once again for the metals. The dollar lower has helped gold and is still a trend that is intact. But we should have our answers on whether we break up past this resistance or not by tomorrow.
I don’t expect a lot of action in the markets this holiday week. Today was a rather lethargic trading day. I do expect a little pullback in the markets maybe tomorrow and then positive by Thursday heading into Christmas.
The dollar will be giving us the direction on gold. Only 10 more days left in 2016 and we had another down year. Next year, at some point, I do have a great feeling I will be writing my “all in” article. With the release of my book alone it will draw I hope thousands more to gold. It’s not a scare tactic book but it will wake investors up to the reality of our economic climate and they can decide for themselves what diversification really means in protecting and growing their wealth.
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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
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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.