Gold and Silver Current Thoughts 11-19-2015

From the trade desk:


It’s been basically a straight trajectory south for the precious metals since the end of October but today finally brought about some positive price action for them.  Gold has rebounded from six year lows, silver has managed to hold above $14, platinum has recovered from seven year lows, and palladium is consolidating below $550.  Yesterday’s Federal Reserve minutes still target December as a likely time to raise US interest rates after seven years near zero. They remarked that the process will be a “slow and steady” one though and this language weighed on the USD.  Gold shorts interpreted the Fed rhetoric and USD price action as reason enough to cover positions and gold moved up about 1% today.


Silver futures touched just below $14 yesterday but managed to find bids to lift it back up above this crucial support level.  Besides being the low from this year, $14 is also the low dating all the way back to 2009.  After falling more than 11% in less than a month, silver will look to consolidate above $14 before trying to make a push higher.

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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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