"The summer months tend to be a seasonally low time for gold"
The summer months tend to be a seasonally low time for
gold. We can't stress enough to take advantage of further weakness to buy.
The good news is that
gold and
silver both held at their key December lows. It'll now be important to see if they stay above these levels at $1,540 and $27, respectively. If so, it'll be a good sign that these markets are bottoming and the worst is over.
Use weakness below $1,600 on
gold and $30 on
silver to buy or add to your positions. This is one of those times that can be difficult, but we don't think you'll regret it.
On the upside, the metals will begin to look better above $1,620 and $33.
Gold's fundamentals are solid, demand is strong, and it looks like this weakness will be temporary.
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