Gold and silver have held critical support. And this morning, both metals are rocketing higher. Gold is up about $16 trading at roughly $1,288, and silver is back above $18.
This is great news, as I was worried about the steepness of the selloff that occurred on Friday. It’s also of course, great news for your long positions in gold and silver.
Yesterday, you also were able to grab gains of as much as 20% on half your short oil position via the VelocityShares 3x Inverse Crude Oil ETN, symbol DWTI.
I expect to be adding to gold and silver positions, but not right now. A pullback is likely and it is that pullback that I will use to pull the trigger. So be patient.
Hold all other positions and stay tuned, very tuned in.
Best,
Larry
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