Look who has dropped by the ol’ Honey Hole…
The more I read about the current government and the history of past governments, the more I want to own Gold. I love America, but I have little faith that our government will not repeat the mistakes of past governments.
I’m watching GLD here to see how it responds to the 50 day average. This setup is typically bearish.
I want to get some GLD in a retirement account, but I’m not willing to buy it right here. What I want to see is a few strong closes above the 50 day average, or more weakness. Some strong closes here will tell me that the fear/inflation trade is still strong, while some weakness will likely mean that there will be a longer period of consolidation before GLD goes higher.
For those who are interested in owning the metals, Jake Gint is your go-to analyst.
Nice post. I’m thinking of picking up some coins soon for a long term investment.
Have to agree with you … I’d like to see that 200 touched before loading up again however Jake watches $HUI and he was waiting for that to confirm the uptrend with a higher high and it did that today …. Off to the bullion store on next pullback.