Me thinks it’s time to take profits in Gold

Time to take those profits you made in Gold and Silver off the table.  Multiple factors are all pointing in the direction of a correction on metals, including currency movements. (1) We hit new highs today on Gold and Silver, but then didn’t finish at those highs. (2) The dollar is hitting double bottom, which will give it serious short-term support, not giving dollar-denominated assets room to rise. (3) The Euro is losing strength against the US dollar, and Gold has been tracing the Euros movement all summer. (4) My doctor friend, usually buried in an operating room or his bed when he is not on call, rang me today to specifically talk about the urgency of moving a good chunk of his portfolio to Gold and Silver.  This last one is the most telling, and even better than an economic chart. When a guy who isn’t paying attention at all to the markets and doesn’t know much about the investing – when he tells you about getting into Gold and Silver – it’s time to sell Gold and Silver. He’s the clearest signal of the top. Here are some HiddenLevers charts to help you understand the relationships between Gold + US Dollar + Euro:

US Dollar vs Euro: http://www.hiddenlevers.com/hl/u?c5Y4cv

Gold vs Euro: http://www.hiddenlevers.com/hl/u?aiCYT7

Gold vs US Dollar: http://www.hiddenlevers.com/hl/u?aas8QH

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