Gold is down to $1,212 in Asian Trading and seems like it wants to touch the major $1,200 resistance before a bounce. I am not a fan of gold breaking above $1,280, the last high, but anything is possible. We are closer to breaking lower now than higher but will not futures are up 8 point and gold has been trading with the market of late.
I will note once again the dollar is up and gold lower and naturally favor this inverse relationship over any other giving us a direction in gold that is closer to overall trend. That trend is higher dollar and lower gold. Let’s keep that foremost in our minds.
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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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