We finally got our answer on direction for gold and silver with the push higher in the dollar today, which was a good amount for a one day move, pushing past 95 on the Index. Sometimes it pays to be patient and see which side it will break to and at least for now we see gold down and dollar up, resumption of the overall trend lower that I have been calling for quite some time now. Silver actually broke to a lower low.
Another indicator many of you know I follow is the 10 Year Treasury. Today it shot up 5% to 2.18 as higher rates put pressure on gold (at least from a short term perception point of view).
Each time we hit lower lows in the metals, the buyers step forward. I have been warning the last few weeks that supply is drying up and premiums are rising again on some products.
While supplies are still at a good price for some of the products we sell, I do recommend cost averaging into a position now so you won’t have to wait months on end for some of these lower priced products. The suppliers I have I trust fully to deliver on their promises. One of them actually supplies metal to the U.S. Mint, but we can get the same metal $2.25 cheaper for you per ounce for silver.
I had a customer leave my email list today because he complained I try to sell things to people I apologize for being a capitalist, and trying to help investors buy the right investments for their portfolios. We believe in all we offer and I hardly would call myself pushy. In fact, who tells you to hold off on buying gold and silver the last year? Only us here at Buy Gold and Silver Safely! We also have only given out one long for the Mining Package stocks so far and the ETF Service is doing unbelievably well with a 2 week free trial that we hope pays for the entire year of service. I’m not sure what more we can do to promote what we believe can help you do fantastic with our investment in the future but we are not going to stop now. I hope you understand this is how we make our living; offering the best analysis on gold and silver around. Thank you for reading!
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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
Disclosure:
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.