Gold and Silver Outlook 12-04-2014 Morning Update

Gold and silver are flat to up so far this morning but the miners haven’t yet followed through. The risk vs. reward for a long is still there with a fall below $1205 in gold as a stop. JNUG is 3.50 as I type, the low of the day. JDST would have been a good play from the break of $16.20 to $16.87, the high of the day. As with any 3X trade, keep stops if you don’t have the capital to ride out the swings that temporarily go against you.

The dollar is down today which should be giving gold a boost. That’s one of the main reason from a micro perspective I am staying bullish miners.

UGAZ took a further hit today with the NG report coming out with a decline again. This is market makers having their way playing on the trend. Looks like DGAZ was the better play but UGAZ, there is no doubt in my mind, should be accumulated for a swing play on these dips. Remember, it was just $18.81 on Nov. 20th. As with any of the 3X ETFs, it can be volatile. It’s presently at 8.87 as I type, down 10% for the day. You can see the red candle down on the chart below as the trigger for lower prices in UGAZ. I still like it but the swing trade on it might have to last until January. I expect prices of $12 to $15 by then.

USO still very weak hitting another 52 week low.

I’m going to have an article coming out by tomorrow on buying silver with your IRA. Look for it on the main page.

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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


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.