Gold, Silver Continue To Rally
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold has now rallied five days in a row, and there is no sign the rally is going to stop. Silver has followed suit, and both metals look like they will continue to move higher until further notice.
Both gold and silver will find resistance at some point; the only question is where. Looking at the action, expectations are gold should see $1,300 before pulling back and silver $16. These levels would be perfect spots for the metals to take a breath and pull back a little.
There will be a pullback but that should be used as an opportunity to buy more or enter for the first time. Until further notice, both gold and silver are headed higher and are approaching bull markets. Although we don’t make ridiculous predictions, our views are the rally in metals will continue for an extended period of time.