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Gold Battles Support, Gets Boost From Trump Talk

Commentaries & Views

Gold is stagnating around the $1,280 support level while deciding if the lows are in and the bear market is over. Silver is mirroring gold as both the metals are trying to decipher upcoming world events. Both received a boost on Monday after being lower most of the day, popping on comments by President Trump on the new Fed chair.

Metals traders and investors are dealing with many different issues -- waiting for the equity markets to break and trying to figure out what the dollar is going to do next, among many other things. With the equities meandering at or near the highs, gold and silver are seeing less participation from investors as money flows into equity markets.

We stand by our opinion that the bear market is over in the metals. As we wait for the new bull market, we have to watch the market footprints. Investors leveraging up record margin debt and global markets lacking volume and volatility means markets are going nowhere now.

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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