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The Silver Lining In Gold

Commentaries & Views

Gold appears to be breaking out to new highs despite the strength of the dollar and the equity markets. The negativity and fear surrounding gold is helping propel prices higher and it now looks headed to the next level of $1,300.

Silver has suddenly gained strength as well breaking out as it targets $16. After months of consolidation, silver is attracting new money buyers and looks ready to join gold in what looks like the next bull market in metals.

Although both gold and silver look good and appear to be headed to new highs, that doesn’t alleviate the potential for a reversal and some selling pressure. Traders and investors must still watch the support levels. Gold’s support is $1,250 and silver support is $15. As with any trade, the key to success is patience and discipline.

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.