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Gold, silver pause waiting to run higher

Commentaries & Views

"Play it again" has been the mantra of the metals markets over the past couple of days. Once again, we see solid consolidation as gold and silver await the next big move, all signs point higher. The pattern for gold and silver remains bullish.

We are already seeing the cries that gold and silver are manipulated, which is false under any circumstances. It takes money to try and manipulate any commodity market, but at the same time, even manipulated markets require price discovery. Too many traders and investors forget the most important fact of markets; they are always right.

We watch the price action and the trend; the past couple of days, the action has been lousy, explaining the lack of real movement. However, the bigger picture looks very bullish and point to a big run-up. This could be fueled by the selloff in the crypto world.

The bottom line is simple; price discovery will drive the markets up or down whether they are manipulated or not. Right now, the trend is higher and we are long; it's that simple.

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.