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Thursday, December 30, 2010

Where was the Precious Metal Pullback?

back a few months back I wrote the low in precious metals should hit about now, before the next leg up.

Well, gold and other precious metals haven't gone down, they in fact are maintaining price if not rising.

Gary is speculating for return of the final wild ride of the bull precious metals market. In his pay service has set a dollar price when that will trigger.
It's hard to disagree with Gary's logic. I submit that it is a good time to start adding to positions, but I am not sold on loading up right now. If'when the USD breaks below 78, I think it is a good time to load up. It should be a clear sign that the USD is going lower instead of higher.

The fact that precious metals did not pull back significantly is really a good sign that the precious metals market is about to take off upward. But as they say, big reward comes with big risk.

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