The dollar is still hovering above 95 on the index, despite some up and down from that number. I still would look to it for an idea of where gold will go tomorrow as well as notice the mining stocks once again had a nice day despite the downturn in gold. I still want to see the dollar fall below 94 and gold move above $1,200 and then $1,215 for a nice run BEFORE we get below $1,158, the November 5, 2014 lows.
The data that can help gold this week are anything to do with the labor markets, retails sales and PPI. Tomorrow we have this data and will be most interested to see if Williams changes his mind from a couple weeks ago on anything. These Fed members always look at jobs numbers and with interest rates creeping up, is this really what they want to see? I don’t think so just yet. A move further up towards 3% will reveal the true Fed intent. Just watch. See chart below for 10 year Treasury.
One Day Sale on Gold and Silver 5/12/2015
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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
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