While stocks break to new highs, gold and silver are still in a strong downward trend and today gave us no indication the pain is over. While all scores remained the same for GLD, SLV and GDX at -100, -100 and -70, it was still a topsy turvy day with jobs numbers coming in good but the Philadelphia Fed Manufacturing Index came in lower and U.S. Housing starts fell 14.4% showing deflation is still in control.
Gold hit a 3 month low one week ago and hasn’t really looked like its found a bottom yet. The same goes for silver. The miners are hanging in there though and have not yet hit a 3 month low.
GLD Chart
SLV Chart
GDX Chart
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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
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