Gold Makes A Very Bullish Move

GOLD

On Wednesday Gold bottomed out at $1,197 and made a confirmed inter-day reversal, a very bullish move. Since then the market has picked up in volume and value and now has moved back above the $1,220 per ounce level. It’s clear that the recent correction is over and I look for Gold to start trading in the $1,220 to $1,250 area next week. At 11am PDT today, Gold is trading at $1,222 per ounce, up $8 on excellent volume.

SILVER

Silver has recently been showing better demand and price support than Gold. After bottoming out on Wednesday at $13.86, Silver has moved higher on excellent volume. At 11am PDT today, Silver is up $0.12 per ounce, trading at $14.38 on excellent volume.

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