Crude oil is approaching six year lows, the US Dollar is stronger.
Under normal circumstances, this would mean the precious metals would be trading lower. All four traded higher today.
Gold is breaking out to the upside and hit twelve week highs today. Since breaking through a long term down trendline dating back to October of 2012 two days ago, gold hasn’t looked back.
It is up for the third day in a row and its near term target is the 200 day moving average at $1,254.25.
Silver exploded through $17 today but has found heaving selling emerge at $17.20, the fifth point on a down trendline dating back to August of 2011.
We could see a sustained move higher if US equities roll over.
Finally, the current gold to silver ratio stands at 72 ounces of silver to 1 ounce of gold. What does that mean to you? Read John’s commentary.
All Things Considered – John’s Commentary:
Action to take now: The single best play in the metals right now is swapping some of your gold holdings for silver. The ratio stands at 72 ounces of silver to 1 ounce of gold. This ratio is skewed heavily in favor of silver as the better investment.
Better yet, there is no money out of pocket to execute this trade. This is a tremendous opportunity! Please let us know if you would like to learn more.
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