We got our first taste that the bull market may not be over yet with gold, at least from the gold mining company shares that rebounded today with the stock market. Gold itself though continued lower but has hit some resistance.
Miners all hit bottom and bounced today. Gold should follow miners higher still. Has the potential of one more run to $1,300 and miners should continue with this market/oil bounce. Then the rug would be pulled.3 times now we have had great trading days in DUST. Soon we will have great trading weeks in DUST.
But for now JNUG and NUGT should move up with the overall market. Oil I think is what people should watch for clues more than the price of gold for the mining ETFs. It falls everything else will fall with it.
We are in a range right now with gold waiting for the next move which should be a bit higher as long as oil does too.
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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