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Gold Over $1,300 Again, Can It Hold?

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From some of the old commercials, Live or Memorex – Can gold hold over $1,300? Only her hairdresser knows for sure. Once again, gold will try and hold $1,300, which has been the key battle ground. Key number one is a close above $1,300. If gold fails here again, that could spell trouble for gold.

We expect gold and silver to hold these key levels and work their way higher. The weaker dollar should help buoy gold and silver higher. But, before we worry about higher, the hold of $1,300 gold and $17 silver are a must.

Everything looks good about gold, a hold and a close over $1,300 would mean gold is headed to the next level of $1,340 and silver to $18.00. Today, will be a TV thriller as to whether gold will hold, $1,306 will be a little short-term resistance. This is going to get exciting.

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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