Doug, the dollar fell hard today. Is the bottom in for gold?
Answer; No. The dollar is still in an uptrend.
Doug, Is there fear in the markets overall?
Answer; Let’s take a look at the VIX which still shows signs of fear but not enough to worry about yet.
Doug, another indicator you have is the 10 Year Treasury. What does it tell us?
Answer; It tells us rates are falling. I think rates have even further to fall. It fits right in with my deflationary scenario perfectly.
Money velocity still non-existent.
Stock market moved higher today why? Because of speculation of an OPEC meeting? Didn’t it just do this about a week ago?
The data we have seen come out has been horrendous and the stock market moves up. What we saw was a technical bounce off of the 16,000 resistance level on the DOW coupled with a bounce in oil. Nothing more.
What we saw was gold move up with a dollar fall. Nothing more.
Nothing has changed with my prognosis and the data doesn’t lie.
We’ll see what tomorrow brings.
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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