Nothing really changed with the outlook for gold and silver as they as both moved from a -70 to a -60, still maintaining the weak downtrend. Tomorrow morning may be telling if we bounce higher from here or continue the downward momentum. If one thinks about it, silver is less than $1 from it’s 2013 double bottom prices. It wouldn’t surprise me that we take those prices out as many long time readers know. Gold is about $100 from it’s double bottom from last year and if we get a bounce higher from here or not, is poised to take those lows out at some point.
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.