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Gold, silver end the year with a bang

Commentaries & Views

Gold and silver are breaking out to the upside and preparing to test the recent highs. After being short from the last rally and now long from the bottom end of the range, it appears the metals are ready to run.

Markets are relatively simple to trade as long as traders and investors understand the footprints that are left behind by the money. The footprint suggests the metals are breaking out to the upside and should test the recent highs made in August and September.

Market direction is driven by money, which then determines the strong and weak hands. The strong hands are now the bulls, which should keep the rally rolling. Until there is price action indicating a change in direction, we will be long and looking for new highs. We know that there is no way to know when this will change, but for now the metals are going higher.

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.