Wednesday, August 12, 2015

Pet Rock For You, Sir?


Just last week we saw Gold trading at $1080 and Silver at $14.50.

Right now, Gold is at $1122 and Silver is at $15.55.

Unless the Yuan continues to be devalued (which is actually a very possible scenario), I would put it that the USD has topped out.

A weakening USD is beneficial for all commodities, and that means Oil and Precious Metals too.

WTI actually went to $42.60 per barrel, which is just marginally higher than the $42 set in March. If the USD is going to weaken, this might be a significant bottom.

I am very very comfortable with my positioning and average price of my precious metals position now. I am resisting the urge to continue to add even though I think the prices are still fantastic.

If this is really the start of the shit hitting the fan, I need to be holding onto as much cash as I can.

No comments:

Post a Comment

Observe the house rules.