Gold, silver, in for a ride higher? Sights on $1950
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
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.