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It's A Gold Rush

Commentaries & Views

On Monday, gold followed through on Friday’s big move with another rally. This morning, gold is higher again along with silver. The metals continue to be strong and there is no reason to believe the rally won’t continue.

Gold has clearly broken out to the upside, while silver is reaching a level of resistance. Our expectations are the gold rally will continue although a sell-off to support in the next few days would be no surprise and a buying opportunity. Silver looks to have a rougher road but should be able to break out, moving above $16.

The metals are in a bullish pattern, which we expect to continue. Sell-offs to levels of support should be bought. We are buyers of gold at $1,300 and silver at $15.80. Our next targets are $1,350 gold and $16.20 silver.

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.