Greek Bailout Sparks Risk On Rally In Gold, Silver And Industrial Metals
By Jeb Handwerger:The Chinese Ideographs for crisis is a two edged sword. One blade is pointed upward to forecast opportunity, the other symbol is pointed downward to signify danger. The short term deflationary crisis in 2011 provided a unique opportunity to buy undervalued miners at historic bargain basement prices.
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In 2012 the market metrics have been directed upwards for gold (GDX), silver (SIL), uranium(URA) and rare earth miners(REMX) as the 20 and 50 day moving averages turn upward. There is an old truism that fighting the tape can be dangerous for your financial health. It is suspected that the Europeans will try to assuage fears on a Greek bailout to the tune of $172 billon to solidify a global market reversal...for the time being.This event will be coinciding with the general equity markets breaking through key resistance levels and previous 52 week highs. This powerful move inComplete Story »