Make Kitco Your Homepage

Gold Rally Continues

Commentaries & Views

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.

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.