A Tale of Two Metals
Just a week ago, gold appeared onthe verge of breaking out to the upside and traded as high as $1,369, makinghigher highs and higher lows. Out of nowhere, gold has reversed and is makinglower highs and lower lows, also known as the torture of a consolidatingmarket.
On the other hand, silver hasbroken out to the upside and has one more hurdle to pass before it will beconsidered in an uptrend. With silver trading just north of $17, there appearsto be a clear path to $17.70 and higher.
This is the tale of two metals --one in the best of times and one in the worst of times. For now, gold should besold at resistance and silver should be bought at support. This is only atemporary separation and the metals will join forces again, but the picture isclear. Until we meet again.
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.