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Gold, Silver Hold In Tight Range

Commentaries & Views

Metals managed a small gain on Wednesday as equities regained all of Tuesday’s losses. The fear, no-fear trade has had no effect on the metals the last couple of days, which supports our views that markets trade independently and are not always correlated.

Gold has been consolidating for the last four days as it tries to hold gains and keep the bottoms in place. Silver has been in congestion for months. Both metals now look poised for a run to the upside. The lows appear to be in, clearing the way for an extended rally.

Commodities are looking strong and are looking to continue their upward momentum. Gold and silver look like they are ready to join the party. Our expectations are equities will sell off, bringing new money to commodities, especially gold and silver.

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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