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The Skinny on Gold and Silver
One of the best indicators of inflation and deflation is the
action in gold and silver. When gold and silver rally it is telling
us that inflation is taking hold, the opposite is true when gold
and silver decline. The precious metals will usually trade inverse
to the U.S. Dollar Index. This morning, the U.S. Dollar Index
plunged after the opening bell rang at the New York Stock Exchange.
This type of action in the dollar happens very often. A falling
U.S. Dollar is always beneficial to the precious metals.
The popular
SPDR Gold Trust
(
GLD
) is trading higher 0.61 cents to $159.90 a share. The GLD will
have intra-day resistance around the $160.75 area. Traders must
remember that if U.S. Dollar Index rallies higher the precious
metals are likely to pullback further. Some other ways to play the
precious metals will be use equities such as
iShares Gold Trust (
ETF
)
(
IAU
), Sprott Physical Gold Trust (
PHYS
) and the
ProShares Ultra Silver (
ETF
)
(
AGQ
).
Nicholas Santiago
InTheMoneyStocks.com
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