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Markets Quiet, Bitcoin Crushed, Gold And Silver Higher

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The weekend is over and equities are higher on quiet trade, as earnings season is underway and all eyes are on the results. Of course, it doesn’t really matter, markets are still higher and don’t care about any fundamental data, unless it’s good. This has been the pattern, good news equities go up, bad news they pause and then go up.

The vicious cycle we see spills over to Gold and Silver. Both have been sold off, but did hold key levels. Gold will now test the $1,249 level, and if it can clear that hurdle, we will once again see strength. That’s a big if considering the struggles the metals have had with a very weak dollar. Bitcoin has lost 30% over the last couple of weeks but still substantially higher, seeing natural selling.

Trade will be quiet through earnings or until markets start to sell off. This action is very consistent with markets making a top. It’s a great time to observe looking for a solid footprint.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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