While we continue to see the next move in gold to be lower, we are seeing a nice rally this morning. The rally is not a surprise, we have written for weeks that there will be rallies and until there is a close over $1,500 in December futures, gold is headed decrease.
The gold bugs are out in drive, believing that with all of the world troubles, there is no such thing as a approach for the metals to go decrease. For many who imagine the situations within the world markets will ship the value hovering there may be one query: why hasn’t gold rallied already? The issues aren’t new.
Silver is increased this morning as effectively; nevertheless, neither gold nor silver have damaged out to the upside. Each are simply testing resistance and we’re sellers till there are closes over $1,500 in gold and $17.90 in silver primarily based on the December futures. For now we are going to take into account this rally nothing greater than a useless cat bounce
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