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Gold and silver breaking out

Commentaries & Views

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

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.

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