Precious Metals, Daily Action and Direction

Posted on September 21, 2007 , filed under Stocks | Print This Post

After two days of voracious gains a pullback maybe in order, although I believe it will be short lived. I am guessing that we will see the USD Index rebound above $79 again. Gold has stayed above its 28 year high and silver is firmly above $13. If the USD Index does rise above $79, we may see a dip to $720 for gold and under $13 again for silver. This will possibly create another minor buying opportunity for precious metals stocks.

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Comment by Sth_Txs

2007-09-22 09:51:59

Listening to Jim Puplava’s program last weekend, he thinks gold and silver will get whacked again by the central banks.

I was quiet surprised by rapid rise in gold and silver over the couple of days when the Fed announced its asinine rate cut. Or maybe I should not have been given that I’ve read Rothbard’s essays on the Fed and What has the Government Done to Our Money.

I’ll probably put a little more $$$ into energy and mining.

I would like to diversify into a water ETF or maybe some stock index ETF’s.

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