It's Ugly For Gold And Silver
There have been some ugly periodsin history for gold and silver, but this is one of the ugliest. Neither goldnor silver can catch a bid as they both continue to take the elevator down,making new lows almost every day.
Sellers meet every rally attempt,whether it's the commercials or the banks; there is a 1,000-pound gorillasitting on top of the market. The situation is starting to appear hopeless, andfrustration from the bulls is becoming more evident.
However, there is hope and likeall great sell-offs in markets, this too shall end. We can't say when, but weknow with certainty that it will. As the elevator moves down, the next stopshould be $1,240. Will that be the bottom?
There is no way to predict theexact bottom. One day the metals will stop going down and because markets don'tannounce themselves, there will be a new bull market. For now, the best tradeis patience and observation.
Contributing tokitco.com
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Bubba@bubbatrading.com www.bubbatrading.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.