From the trading desk;
Gold and silver continue to grind higher, all the more impressive in the face of rallying equities and the euro losing ground against the USD today. Yesterday, gold closed above its 200 day moving average for the first time since mid-May and it has now gained $50 in the past five trading days. After looking like it would stall and see some profit taking, silver made a modest push above its own 200 day moving average yesterday. Physical fabricated coin and bar demand in North America has undoubtedly slowed in this recent move up for the precious metals. Premiums and delays on products have started to contract as spot prices have risen over the past two weeks.
For those that missed my interview yesterday by Michael Rivero from whatreallyhappened.com you can click below to listen to it. The interview of myself is for the first half hour.
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
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.