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Gold And Silver Charge Higher

Commentaries & Views

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Gold and silver are charging ahead, looking to test new highs. Gold is tracking the $1,377 level, which would be 14-month highs, but a break above $1,377 would be three-year highs. Silver is tracking the $18.60 level, which would be five-month highs.

Both metals benefitted from Super Mario’s words on Thursday saying that the euro was too strong, creating more unintended consequences from the manipulated fiat currency system. The euro is on two-year highs showing no signs of slowing down, which will continue to power gold and silver.

Expect to see a little selling pressure on the metals as they approach their resistance levels. The bear market is over and this looks to be the start of the next bull market. The healthiest move for gold and silver would be some selling at $1,377 gold and $18.60 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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