Gold is hitting the bottom of it’s current downturn and is ready for a big move up. We have had some bad days for the stock market the last week and gold mining stocks got hit pretty hard too. But physical gold didn’t even break $1,300 on the downside. It is showing resilience despite most everything else selling off, like stocks and bonds both with the higher rates.
While we may get a reprieve in stocks this week, gold should be moving up faster. The dollar is still key and it just couldn’t quite get it going. Want to know why you need to look no further than Congress and listen to Senator Rand Paul’s words on Capitol Hill to both the Left and the Right.
I will be covering most of that speech in a future book called We the Serfs! If anything, send this video link to your children who need to know what’s going on with their government.
While we do have one very nice leg up in metals, looming over us is the unwinding of what our government has done to us fiscally. We still need the deflationary credit contraction to come. This past week is just a prelude to what we have going on, more than likely at some point this year, after the summer months.
If you have 401k’s, this next leg up is time for you to lock in profit and move to cash or temporarily U.S. Government Securities. And for your money sitting at home, but now and after the next leg down are both good times to buy physical gold and silver for the long run.
I have updated my Buy Gold and Silver Safely book for 2018 and will announce its release next week.
I am already updating my Illusions of Wealth book for 2018 as well, because THIS is the year when things begin to implode and you need to know why and what you can do to protect yourself.
In the meantime, enjoy the last stock market ride higher where gold will tag along for a bit.
I have been making comments over at Seeking Alpha and you may have missed my last article; The Trump Effect On Gold and Guns.
For my ETF Leveraged Trading Service, we had a perfect week of trades in what has been the worst week for Wall Street since 2009. Below are the returns for the week on the trades we made.
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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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.