Many of you know I continually say to watch the dollar for short term trading. For me, the pattern is as clear as day but naturally they don’t move in sync every day. But we are once again seeing stronger gold with a weaker dollar and close to a break to the $1,300 level that I have mentioned a few times in Current Thoughts as a possibility. The dollar is presently under 94.
Silver also is once again above $16 and this is a bullish sign. Yet we have been here before and it couldn’t get up to the $17 level so we have to see how much strength silver has in it and the dollar again is what to watch.
You’ll also notice that oil, another commodity is up too and this has pushed the stock market higher. Enjoy this while you can as it won’t last. Just let the dollar rebounding tell you when to abandon ship in these commodities.
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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.