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Gold Quiet After Reversal Rally On Monday

Commentaries & Views

Since last Wednesday’s Fed Ponzi scheme report, the gold haters tried with all their might to push gold lower. On Monday the bulls took a stand and gold reversed. Although gold is lower this morning, we will watch $1,290-$1,300 to be buyers.

There are many reasons to be bullish gold and for now I don’t see any reason to be bearish. Gold is at support; the equities look to be ready to roll over, especially the Nasdaq, which had a key reversal on a weekly basis last week and many of the FAANG stocks are in correction territory

Gold and silver look good no matter what right now, but if the equities start to fail -- which is a real possibility -- gold and silver could fly. The general markets are on edge. Coupled with a clueless Fed, you have the recipe for a meltdown, which will only support the prices of the precious metals.

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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