Kitco News speaks with Jim Wyckoff, following continued pressure on gold, to see where he thinks the metal is headed. “Near-term technical posture of the gold market has deteriorated significantly,” he says. “The bears are still in firm technical command of both gold and silver.” Wyckoff also says that although tensions in the Ukraine have simmered down, there is still violence there that traders should keep an eye on. Tune in now to hear his market ratings as well as key levels for both gold and silver. Kitco News, May 29, 2014.
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2 Comments
Definite bargain buying!
I love gold and silver smack downs by the Central Banks. It allows me to acquire the metals at fire sale prices. I just hope they bring it down even more. Trouble is, if the mines all go out of business from these actions, how will the money printers trade their paper for gold if it wont be brought above ground?
Also, if the economy is doing so well, the Stock Market reaching new highs, why is Platinum and Palladium taking a hit? Isnt the strike in SA still on? Wont there be great shortages next year when industry replenishes? Those are industrial metals. The way I see it, if the industrial metals fall, even during shortages, expect to see a bad economy.