Gold and silver breaking out
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Here we go again; gold and silver are breaking out to the upside. Monday and Tuesday this week saw big gains in both gold and silver; both look headed to a test of the highs. The patterns are extremely bullish based on the way they both held their key support levels.
We often write about the pattern and the market footprint which in this case indicate that the metals are going higher. The global economy is melting down, interest rates are negative in most of the world and the U. S. looks headed that way.
Conspiracy theories always come into play when markets are making big moves. The conspiracy theorist whine about market manipulation when the simple answer lies in the market footprint. The market patterns play out no mater the reason, markets move on money flow. It’s that simple