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Gold Prices Hold Support

Commentaries & Views

After Friday’s huge jobs number and the big rally in equities, markets are mixed this morning. Gold and silver held support, rallying this morning. Both look to be ready to break out to new highs once again as they look primed to start the next bull market.

Many are concerned about the strong dollar, which at these levels should have no effect on the price of gold. We know that there is a correlation between the dollar and the metals; however, both have rallied together for the past few months.

Our expectations are the dollar and the metals will continue to rally with the dollar going to par and gold to $1,350. The patterns in metals and the dollar are bullish, and we expect both to remain strong in bull markets. The last time the dollar was at par, gold was at $1,360. We expect a repeat of the same pattern.

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.