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Gold and Silver were due for a pullback and yesterday Gold came within a whisker of my downside target of 917.00 basis the August contract.  But I really didn’t like the action in the market because I was looking for a real washout kind of trade that would finally have the weak longs grinding their teeth and being forced to throw in the towel.  I advised you previously that the market was probably heading for a down period and I had been SHORT during this retracement.  When it became obvious that the market wasn’t going to reach my target of 917 yesterday I reversed my position and got LONG AUG GOLD at 921.50.  The market is trading at 923.10 as I write this blog entry.  But here’s the kicker!  The market broke all the way to 913.20 overnight!!  That’s the kind of action that I was looking for yesterday that never materialized.  I feel comfortable in advising you, our readers, to BUY GOLD and SILVER at these levels.  We may not see these markets at these levels for a long, long time.  This is exactly the kind of move that I was hoping for because it looks like those weak hands have folded their cards and it’s time for the markets to turn and head higher.  The flip side to this would be if the AUG GOLD contract were able to close below 917.00 on two consecutive sessions.  This would be extremely bearish and could push Gold prices back to the April lows at 867.50.  I give this scenario about a 5% chance of occurring.  I put the odds that the market has bottomed right here at 75-80% and those are the kind of odds that I need in order to commit to a trade and I’m committed to this trade now.

If you have been thinking of purchasing some GOLD or SILVER BULLION, please call our toll-free hotline and talk to one of our professional advisers who will provide you with the latest prices on Precious metals.  Opening an account takes only a few minutes.  Pick up the phone and call 1-800-605-1792!  You’ll thank yourself for doing so because this is an opportunity to buy GOLD and SILVER at prices that we may not see again.

As always, if you have any questions, follow me on Twitter, send me an email at daledoelling@bullion.com or call me at 888-453-4614, ext. 2.  I look forward to talking or “Tweeting” with you.

Good trading,

Dale F. Doelling, Chief Market Analyst

The information and comments contained herein are provided by Secure Future Financial Corporation (”SFF-CORP”) and NOT Castello Cities Internet Network, Incorporated. Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. This report includes information from sources believed to be reliable and accurate as of the date of this publication, but no independent verification has been made and we do not guarantee its accuracy or completeness. Any reproduction or retransmission of this report without the express written consent of Secure Future Financial Corporation is strictly prohibited. Again, the information and comments contained herein is provided by SFF-CORP and in no way should be construed to be information provided by Castello Cities Internet Network, Inc. Copyright © Secure Future Financial Corporation.

In my blog entry on 6/3 I stated that it looked like we might have come to the end of the line for the rally in Gold and Silver primarily due to the surge in the US Dollar after the better-than-expected, but still dismal, employment report was released on Friday morning.  Both markets were in overbought territory so they were just looking for a reason to correct.  Obviously, they found it in the dollar reversal.  So today, we find AUG GOLD searching for support and, with an intraday low of 943.80, the market came within a whisker of my initial downside target of 941.00.  Now the question is, can Gold hold this major area support?  The answer will come with the passage of time.  My professional opinion is that the rally in the  US DOLLAR will be short-lived but may still have some legs.  Gold and Silver, once the retracement has run its course,  should continue to provide superior returns to stocks and bonds but, more importantly, provide a much better way to protect your personal wealth.  Unfortunately, both Gold and Silver have gone from overbought to just neutral and may need some more work to the downside before a real bottom is found.  I’m good with that.  This is very healthy for both Gold and Silver and will allow these markets to continue to press higher.  I expect Gold to make new all-time highs in the next month and Silver should eclipse the February highs on the back of the next rally in Gold.

If you have been thinking about buying some Gold or Silver bullion coins, all you need to do is call our toll-free number (800-605-1792) to place your order.  You can speak with a professional adviser who can explain the easy process of opening your account and completing your purchase.

As always, if you have any questions about the markets, trading, or you just want to chat, feel free to call me at 888-453-4614.  If I can’t answer your call immediately I will return it as soon as I am available.

Good trading,

Dale F. Doelling, Chief Market Analyst

The information and comments contained herein are provided by Secure Future Financial Corporation (”SFF-CORP”) and NOT Castello Cities Internet Network, Incorporated. Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. This report includes information from sources believed to be reliable and accurate as of the date of this publication, but no independent verification has been made and we do not guarantee its accuracy or completeness. Any reproduction or retransmission of this report without the express written consent of Secure Future Financial Corporation is strictly prohibited. Again, the information and comments contained herein is provided by SFF-CORP and in no way should be construed to be information provided by Castello Cities Internet Network, Inc. Copyright © Secure Future Financial Corporation.

This is being written at 2:37 PM Eastern time on June 3, 2009.

Some technical damage was done to both the Gold and Silver markets today as the Dollar strengthened significantly pulling most commodities lower.  AUG GOLD closed the open outcry session at 965.60, down 18.90 or nearly 2% on the day.  Should the market close below 963.00 on Thursday then the short-term trend will be DOWN and the possibility of further selling pressure will increase substantially.  Support lies at the 941.00 area which could be reached by the end of the week if the pace of selling is sustained.

JUL SILVER closed at 15.31, down $0.645 on the day or better than 4%.  A close below 15.17 will turn the short-term trend in Silver negative and put support at 14.19.

Some near-term strength in the Dollar was not unexpected considering the thrashing that the greenback has taken over the  past 3 months.  And understand this.  I’m not recommending that anyone get SHORT Gold or Silver at this time.  I’m only putting out this alert because these markets are at important levels that could push them lower in the near-term.  I’m still extremely BULLISH for the long-term and I won’t be surprised if we look back at this period of weakness and realize what a great BUYING opportunity it was.  So, be patient and I’ll send out an update at the close on Friday.

Good trading,

Dale F. Doelling, Chief Market Analyst

The information and comments contained herein are provided by Secure Future Financial Corporation (”SFF-CORP”) and NOT Castello Cities Internet Network, Incorporated. Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. This report includes information from sources believed to be reliable and accurate as of the date of this publication, but no independent verification has been made and we do not guarantee its accuracy or completeness. Any reproduction or retransmission of this report without the express written consent of Secure Future Financial Corporation is strictly prohibited. Again, the information and comments contained herein is provided by SFF-CORP and in no way should be construed to be information provided by Castello Cities Internet Network, Inc. Copyright © Secure Future Financial Corporation.