Current Thoughts for 7/11/2016

No report needed tonight. Everything status quo from yesterday.

Something to think about;

Regarding deflation, you need to look at leading indicators like a countries manufacturing PMI. In China it is declining. http://m.investing.com/economic-calendar/chinese-caixin-manufacturing-pmi-753

As China goes, so goes the world.

The world PMI is contracting since April 2015 as well. http://www.tradingeconomics.com/world/manufacturing-pmi

Yes, there are success stories and blips up. For example, in the U.S. we had a blip up in car sales with more subprime lending.

We have seen this picture before though. While I am a longer term gold bull, we need to see a deflationary contraction (credit) first, and this will be (and may already be reversing as I have been hinting towards in my Current Thoughts) dollar bullish and put pressure on gold as we struggle with the $1,400 topping area.

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About Doug Eberhardt

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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