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Are the bottoms in for gold, silver?

Commentaries & Views

Gold and silver continue to consolidate at higher lows trying to make a decision on which way they are going next. This brings the question -- are the bottoms in place for gold and silver?

We can never say with 100% certainty whether the tops or bottoms are in place; we can only follow the footprints that the markets leave. We use proprietary algorithms that never reversed, leaving us long the gold and silver markets. Combine the algorithm with the footprint and we can make a case for the bottoms to be in.

We will remain long, although we do have some concerns. The blow-off pattern that we witnessed on Tuesday, Jan. 17, usually signals a market top. Magically, the last support held, building a support level that leads us to believe the bottoms are in and gold and silver will go 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.