Gold [and] silver acting very, very good with the dollar up 75 points today. So what I think went on today and it can last a day or so here, is that the dollar, you know, it had been falling hard. It's the end of the month, end of the week, a lot of brokers get paid. If they're managing money, 30-day periods, 3-month periods, who knows what their thing is? Why not grab some money?
For the gold, you're up 1.76% going into Friday's trade. That's impressive. The market is now consolidating some of the gains that it's made but you can't get away from the fact that you were just in the $1960s and you've come up $100 an ounce. It took 2.5-3 weeks but you did a nice job of that. The pattern is one of bullish; there's higher lows and higher highs. The market to me as I said yesterday, I think it's got clear sailing here. I think that all the things that are working on gold, I don't see the Fed wanting to raise rates again. I see inflation, sticky as can be.
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.