Despite a building overbought condition in gold and silver, prices continue to extend on the upside this morning in what we consider long-term fundamental-based investment trading.
Evidence of the bulls piling on the trade was seen overnight from Commerzbank predicting gold to reach $2150 in the second half of next year and silver to reach $30 per ounce by the end of next year.
As we have indicated in financial market coverage all week the magnitude of the anticipated pivot by the Fed, after a historic rate hike cycle obviously justifies a significant and sustained reaction in precious metal prices...[MORE]
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