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Gold, silver, in for a ride higher? Sights on $1950

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Featuring views and opinions written by market professionals, not staff journalists.

Commentaries & Views

As I wrote on Wednesday, bulls have the momentum but are fighting at overhead resistance. Below are the updated daily gold and silver charts.

Gold is making higher highs today off the back of higher unemployment.

Silver, however, is not, so far, rejected at its trendline.

Of course, resistance was expected here. I would still, however, give bulls the benefit of the doubt and continue to think exposure to gold is the easier route for traders, especially as bulls and bears fight at said resistance. The opportunity to move from gold into silver may present itself here soon, in a scenario where silver underperforms as metals take a small breather on their way up.

Thanks, and have a great weekend.

By

Jonathan Da Silva

Contributing to kitco.com

Contact jdasilva@kitco.com
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.