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Silver breaks out to the upside; gold very close

Commentaries & Views

On Monday, the metals had an interesting day. Both gold and silver were higher, with silver breaking out to the upside and gold on the cusp. The strong hands in silver are now the bulls, and with this morning’s higher gold prices, we could see an official breakout today.

The trend is our friend as it has been since the inception of trading. We take money from fools who think they know more than the market and can predict the future. This includes virtually everyone in every kind of investment device. No one can predict the future in anything. We can only follow the footprints which appear within all charts.

Many investors feel they must be right, and I can see the emails coming in asking why we didn’t buy earlier. Gold and silver are no different than any other commodity, stock or index; they leave clues. With silver now breaking out, if this morning’s gold rally holds, we will be buying right after Christmas.

Merry Christmas and Happy Hanukkah.

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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