World Equity Market Rally Tests Precious Metals Major Support Levels

World Equity Market Rally Tests Precious Metals Major Support Levels

GOLD

Strong U.S. economic indicators and improvement in the China-U.S. trade talks rallied world equity markets today. This caused Gold to test major support at $1,450 per ounce. I believe this is the final clean out before our year-end rally. At 11am PT today, Gold is trading at $1,466, down $26 per ounce on excellent volume.

SILVER

Silver fell with Gold reaching the important $17 per ounce level on the same news. At 11am PT today, Silver is trading at 17.05 per ounce, down $0.55 on good volume.

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