Gold Prices: Holding Their Ground for Now

“Naysayers be damned” seems to be gold’s message these days.  Just as it looked like gold prices were down for the count, along comes a crisis in Italy that perked them back up again. Some watchers think they may keep going up too. But there are always those who say gold is heading down.

Right now we’re watching action in the US Dollar to see if any strength appears, because if it does, gold will most probably head down below 1300. But it’s too early to tell yet. Odds are, we’ll have to wait until early next week before any clear direction shows itself. And if it does? This hasn’t been a great year for clear signals in the gold markets, but we can be patient – for a little longer at least.

Today’s featured article lets us chew on the wisdom of comparing gold to stocks.  The Oracle of Omaha is famous for his “gold is a brick” opinion of our favorite yellow metal, yet as this article reveals, there are several ways to look at it, and most of them are quite positive in the current environment.

 Related: Ron Paul Has Surprising Things to Say About Gold – Learn More Here

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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