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Gold Taking a Breather

Commentaries & Views

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Gold has been running higher all week pushing to $1,298 this morning. The precious metal is now trying to catch its breath as it prepares to push through $1,300 on the next run up. The dollar has once again started to weaken, which may help but really is a non-factor.

Bitcoin continues to push higher and once again is well overdone; we should see a selloff back to $3,000. The confusion and fear out of North Korea is causing all markets to react, but they shouldn’t be reacting to this news.

The equity bubble wants to pop and was hit hard on Thursday. Buyers are stepping in this morning but they will probably regret it. We expect this rally to fail. The top appears to be in and rallies should be sold.

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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