Thursday, July 24, 2014

Gold And Silver Have Still Not Found A Bottom- At Least In One's Traders Opinion

Saw the below video from Kitco, and in the interest of broadening your view I thought I would share.

That said, my take is that the gap on the GLD will likely be filled but that the relative strength in the precious metal equities versus the commodity (for instance see RGLD) suggests we see better forward pricing on the metals. Additionally, there is some overhead resistance from trapped sellers that still need to be worked through.

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