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Gold Rally Rolls On

Commentaries & Views

On Friday we asked the question -- could the gold rally continue? The markets have spoken with a resounding yes. Gold traded as high as $1,237 this morning. The next key level to watch is $1,240. A breakout above brings $1,275 into play.

The most important thing to remember now is not to chase the market higher. If you missed this rally, there will be other opportunities. Don’t let the fear of missing out control your investing life.

All markets retrace big moves up or down, and this time will not be different. The rally has been exactly as written, but there is no doubt that profit takers will show up at some point and push markets back down. We will look to be buyers on a pullback to $1,220. If you missed this up move, you will have another chance.

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.