The key price to watch before buying gold and silver
Here’s the price that could signal the next buying opportunity.
Transcript:
Caroline Woods: And what about hard assets. Because I know you called gold's bottom at 2000 called silver's bottom at 24. We've seen huge impressive run ups since then. Are you comfortable getting in now or are you waiting for better entry points? What are those entry points?
Michele Schneider: Well, we're happy we may have gotten out a little bit early, but considering we rode this from almost a double in silver and in gold, I'm happy to be a little patient. So here's what I'm looking for right now. I mean, we're seeing a massive correction as you and I are speaking. And that also always happens with commodities. They go parabolic and then they crash. I'd like to see what happens around 4,000 just sort of as a good psychological point. And with silver which got back down to 4868, I'd like to see what happens at 45 if we even get there. If we don't get there, that's a good sign. And if we do get there, then I would like to see some buyers coming back in and just finally energy.
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