Gold News: Will It Keep Going Up?

candlestick chart, stock market chart
Written by Mike Hammer

It’s Friday and your friendly Gold Enthusiast is tired. It’s been a hectic few weeks with the markets returning to volatility levels we haven’t seen in a while. I hope you were holding some VXX from its lows… All the commotion has been good for gold, which is now solidly above 1200 again and looks like it’s trying to make 1225 it’s new floor.

At the same time, sadly, your friendly Gold Enthusiast does not see this as the immediate launching point for the next run up, because of all the reasons we’ve been talking about over the last few weeks. Luckily another pundit wrote an article yesterday that we agree with wholeheartedly, so rather than write up our own version – which would be different! – we’ll point you toward this one instead. Enjoy your weekend and come back next week ready for anything!

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he 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 a well-known financial planning firm 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 he worked first for a small manufacturing consulting company, then a major 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, spoken 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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