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Gold and silver higher

Commentaries & Views

Equity markets are exploding once again this morning. The news is that China is going to cut back on tariffs, which should be good for agricultural markets. The metals are slightly higher this morning, but nothing has really changed the levels we are watching.

Gold is off earlier highs but as we wrote yesterday, it is at a great support level and should go higher. Gold is poised to test the recent highs. Silver is higher this morning but should fail at about $17.80 based on the March futures.

Markets are offering some clarity on what happens next. The fear trade is over, and the metals should resume the trends they have created. The trend is split, with gold headed higher and silver lower. Watch for $17.80 March silver to sell and $1,555 April gold to buy. Until these patterns change, this is the way we will be trading them.

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.