Gold Rally Continues
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The rally in metals rolls on and should continue to the next levels of resistance. The pattern remains extremely bullish and there is no reason to believe that the rally will end. For now, everything appears bullish and higher prices appear to be on the way.
With all the bullish activity, a temporary pause would be no surprise. We expect a small pullback, which will present another buying opportunity. Gold and silver should consolidate above their breakout levels before resuming higher.
Today is jobs Friday, which could have a major effect on the price of the metals. There could be a 1%-2% move in either direction. We would be buyers on a dip to $1,300 gold and $15.80 silver.