Apr 27, 2018 Guest(s): Phillip Streible Senior Market Strategist, RJO Futures
Gold prices are likely to continue falling on the back of rising yields and a strong dollar, said Phil Streible, senior market analyst at RJO Futures.
"The 3% yield really shook the cage of the gold bulls, and we saw gold prices sell off. I think they're going to continue to slide down, most likely [to] the 200-day moving average around $1,312 an ounce," Streible told Kitco News.
On silver, Streible said that strong catalysts are needed to push the white metal past its current trading range.
"Silver has been trapped in that channel, between $16 an ounce to $17 an ounce, we've been there for three months. Something is going to cause it to break out to the upside, it's just a question of what it is. We saw ETF inflows really come in strong into silver, and I think that it's just winding up," he said.