Below was an update on the Gold breakout, from a multi-month sideways pattern. (see Gold breakout post) Suggested to buy Gold on the breakout and so far, the upside action has been pretty steady.
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Silver looked like it could follow Golds breakouts recently (see Silver breakout post) Even though Silver did decline over 30% in short order…it did hold at rising channel support.
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I suspect many look at the metals as a “safe haven” during these fun “debt ceiling” debate times…Bottom line is that Gold did break from a sideways channel, which the majority of the times provides new legs for higher prices. Silver has bounced in a quality fashion off of rising channel support.
