The news of the day was the continuing belief that Greece can resolve their issues and how the markets eat it up like how many believe politicians when they make campaign promises. For me, I’ll take Bill Gross’ take on Greece. He said the following today;
A Greek exit from the euro zone could “discombobulate” currencies and open the door for contagion to other heavily indebted nations, bond investor Bill Gross said Wednesday.
Here’s another good take on the reality Greece if facing from CNBC which I normally don’t see much negative reporting from. Of course it is from their Worldwide Exchange office, not the one in New York.
Why deadlines are pointless when it comes to Greece
Gold and silver really didn’t do much today. The dollar rose a bit which gives you a better indication of how things are with Greece, otherwise we would have seen a bit of a decline in the almighty dollar.
There was a little bullish news for gold out of China which is creating a $16 billion fund to invest in mining projects and a gold Exchange Traded Fund (ETF). I wonder which U.S. bank they will get to be the custodian (wink)? If you don’t know, I am being sarcastic. I don’t like the fact that banks are involved in anything gold related, especially ETFs where the gold is not insured and you, the investor can’t take delivery of it unless it is in large quantities. I would much prefer you have control of your wealth rather than leave it in the hands of any banks.
Added ETF Research Analysis for 5/27/2015
I have added one more ETF Research Analysis to follow up with what I said yesterday. For you gold traders, sorry, no plays in gold just yet.
You can find it here: https://buygoldandsilversafely.com/etf-research-trading-service/
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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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