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North Korea off the front page, What's Next?

Commentaries & Views

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North Korea is out of the headlines giving the equity markets a reason to rally and crush volatility. We continue to look for something that will drive the markets lower as they sit on edge of breaking down. They are only looking for a reason and it’s not economic data; it will be something like North Korea.

Gold had a great rally last week and tried once again to push through $1,300 but failed. We look for a pullback to 1260-1280 and then a push up and through $1,300. The pattern looks good and the metals look like they are ready to take off.

A sell off in equities would be good for commodities because the money that will come out of equities and look for someplace else, Gold, silver, and grains. The economy is a big mess and the thirst for yield is pushing equities higher. This too shall pass.

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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