We continue to think that gold and silver have forged very significant bottoms, but the recoveries of the last 2 ½ months are susceptible to corrective setbacks. Certainly, the prospect of safe-haven buying from worsening trade relations remains on the market’s radar, but bearish forces like another wave higher in the US dollar and a rising chorus of global slowing forecasts are likely to throw prices back toward the consolidation lows below $1200 in December Gold and to the $14.10 level in December Silver.
All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
