Silver Follows Gold Lower While Anticipating Next Big Rally
Gold tested the $1,300 per ounce support level today, reaching a low of $1,296. I believe we will see massive central bank buying shortly, which should move the price back above the key $1,300 per ounce level. I believe that this testing of the $1,300 level is the clean out before the big rally we are about to see. At 11am PT today, Gold is trading at $1,298 per ounce, down $20 on heavy volume.
Silver followed Gold lower, reaching a low of $15.17 per ounce. A short term correction like this is an excellent opportunity to add to your physical investment. At 11am PT today, Silver is down $0.48 per ounce, trading at $15.21 on heavy volume.