Today’s Current Thoughts are a continuation of yesterday’s so I recommend reading yesterday’s thoughts first.
I tracked those on CNBC for years and their confusion about gold was prevalent everywhere. I have video clips of Mark Haines and co-host Erin Burnett asking the question, “what is gold?” when it was trading at $1,246 an ounce, not understanding why it was valuable. The financial website I was writing for in 2010 didn’t even have a gold and precious metals category until I complained to them.
The experts at the time, including Peter Schiff, are the same experts today who got it wrong from 2011 to 2016. The difference between them and myself is I come from an investment background and furthered my studies to improve my economic understanding of markets, while at the same time reading what others have to say and being able to critique how their point of view is mistaken. This doesn’t mean I am perfect, but I do offer most all my research in every article I write so the investor can follow along with me. I don’t have a hidden agenda and if I wanted to be like most other gold dealers I would sell the same high commissioned products they sell and make a lot more money doing it.
So why don’t I have a desire to make more money? Because as long as I speak the truth of what I see, you will do better with your investments. If you do better with your investments then eventually you will buy gold or silver from us and at some point, when I say it is time to sell gold and silver, you’ll turn to our company and get the best price. At the same time you’ll more than likely have interest in my next book, Illusions of Wealth, due out in January, and some of the other services we offer like the Mining Package and ETF Trading Service. And finally, in transitioning from my investment expertise to my other passion, making the world a better place, you may have an interest in my 3rd book I have been working on for 10 years called “We the Serfs!” that brings to the reader more thought provoking but actionable steps that can be taken to make this country the envy of the world.
What I would like to see is for you to use the wealth you gain to make a difference by following your passions and truly giving back to society based on what’s important to you.
Today’s gold price action; We reversed last weeks move with a slightly stronger dollar today. Gold only $16 away from the $1,050 resistance now and silver broke below $14 an ounce. If the dollar rallies further, I see gold not getting that end of year run into January, reversing the last few years of a pop into the new year.
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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
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.