I’m keeping my eye on gold, and you should, too. While you don’t want to read too much into one day’s action, this chart is encouraging …
We need to see higher volume to have real conviction on this move, but gold appears to be snapping its recent downtrend. Red-Hot Global Small-Caps and Red-Hot Commodity ETFs subscribers, keep your eyes peeled — we need confirmation, but this is a good start to the day.
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{ 1 comment… read it below or add one }
Concerns about the safety of GLD and SLV were brought to our attention recently. Some of the concerns are the custodians (HSBC Bank and JP Morgan) are said to be the greatest short sellers of paper gold and silver, no one is allowed to “see” the deposits in the GLD vaults (so no one knows how much they really hold), the gold bars may not meet London Good Delivery Standards, (are we investing in gold coated tungsten bars), etc.
Are there better/safer options, maybe some that aren’t taxed so high? Can you comment on CEF, or GoldMoney? Also, what about the new PHYS?
thank you.