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The rally rolls for gold, silver and platinum

Commentaries & Views

Today is the day we hear from the Federal Reserve on what their policies will be going forward. For the last 10 days, the metals have indicated a major news event based on this meeting. Whatever they decide to do, it will not be good for the dollar or for the free market system, the cluelessness of the FED.

In the meantime, gold continues to push higher, recovering beautifully on Tuesday from some early selling pressure. During the overnight session Monday night into Tuesday morning, December gold futures printed $2000 an ounce. Our expectations are to see gold’s rally to continue, making new highs.

Silver and platinum continue to rally as well, all signs point to higher prices. The action and direction can change at any time; however, the path of least resistance remains higher. We are long all of the metals and will continue to buy pullbacks with our expectations for higher prices.

The only real question for today, has the market priced in what the Fed is going to do? The key to watch today is how the markets react to the news that is delivered 2 PM Eastern time. No matter what happens after the report, we will have a better idea if the rallies will continue or reached a near term top.

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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.