Gold and Silver Current Thoughts 6-24-2015

The tale of 2 headlines shook the market today. One from CNBC that didn’t reveal the truth of the matter and the others from Zerohedge which usually always takes the negative side of financial news. US GDP revised CNBC headline

US GDP Revised ZeroHedge version

US GDP Revised ZeroHedge version 2

I don’t deal in conspiracies, but zerohedge did point out what happened shortly after the GDP revised numbers came out. Gold & Silver Slammed In Mini-Flash-Crash

In other news, Eurogroup meeting ends with no deal on Greece. Who would want to deal with a failed country that doesn’t understand simple math? With that news and the lower revision of GDP, the stock market tumbled triple digits. You would think gold should be moving higher with the safe haven status it has, but the strength in the dollar is keeping it at bay for the present time. While market makers can keep it at bay and push it lower (my theory) too, when gold finally bottoms it will be a springing effect unleashed on the world and market makers won’t any longer be able to stop it (my theory).

If you are not dollar cost averaging into an allocation today, you are missing out. No one knows when gold will stop declining. I don’t have a crystal ball that tells me where the bottom is. I do feel I have a knack for reading the data and reading the markets well enough to know when to write it though. I honestly can’t wait to write the all in article, but at the same time have to look at price action to give me the present truth. Price action for gold isn’t pretty.

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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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