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Metals Market Update: A Pause that Refreshes
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.