Latest gold and silver buying opportunity
Looking at the daily chart in gold it still looks somewhat range-bound, failing to take out the past highs in September and August, however the silver market has taken out both those highs and closed above them technically favorable for silver.
- Gold and silver have been making higher lows for the past three months
- Silver has broken out of the W formation and Gold may soon do the same
- The precious metals division at Zaner Group says that Minted coins have been tight and they don't see that ending anytime soon
I don't think silver is going to go higher without taking gold with it gold and silver had buy signals last Friday and gold has a new fresh buy signal today. If gold can soon close above the Sept. 24, 2015 high gold should be breaking out I have resistance at $1,182 then $1,207. The weekly chart has already made a new high over last week and has almost had a change in trend to the upside.