Gold and Silver Outlook 9-15-2014

Gold got a little bounce today on India’s imports doubling year over year to $2 billion. Silver edged up just a bit. The score for gold moved from -100 to -90 showing a little improvement (not a new trend) while silver stayed the same at -90, both mired in a strong downtrend. GDX though moved to a -70, showing a little sign of life for the miners.

The 10 Year Treasury and Dollar were basically flat on this non-eventful day in preparation for the upcoming Fed meeting this week. I do expect some volatility which is normal preceding a Fed meeting.

I’m actually looking forward to more clarity from the Fed this week but I just have to separate what they say as fact or fiction based on the data I read and whether I think they are on top of their game or not. Historically, they are always behind, acting after the fact to try and fix things that they basically created. For example, many are talking about ending QE and raising rates after signs of an improved economy. So will the Fed this week simply talk the talk or take action. I am not in the camp of them taking ANY action to raise rates. Not even close. As far as they know, everything is status quo and I really don’t expect them to do anything but continue the QE cuts, thinking that “all is well.” I’m more in the camp of them at some point seeing rates are getting too high too quickly and they need to rein them in “after” the fact.


GLD Chart 9-15-2014

SLV Chart 9-15-2014

GDX Chart 9-15-2014

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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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