Gold took a little more of a hit today hitting a fresh 3 month low, but after hours is up $5. Silver closed at $18.95, and is up a bit in after hours trading now as well. Both gold and silver are still in a a weak downtrend but have not broke last years lows.
The dollar got stronger again today and there was more good news coming out of Ukraine with troop removals reported. The 10 year climbed a little higher to 2.54% and is something I am keeping a close eye on.
While some people like Mike Hulbert from Marketwatch say that gold may be bottoming out, I am still firmly in the camp that gold will take out it’s 2013 lows and silver will as well. How long this will take is unknown. As I have said, bounces will occur and we got another one after hours tonight. Gold and silver investors are practicing some real patience. Naturally, they will be rewarded.
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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