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Momentum has actually changed back in gold and silver's support for now, said Jim Wyckoff, senior market analyst at Kitco News.
" When we last chatted, the markets, both silver and gold, remained in a near-term rate drop. Bear in mind, we spoke about vital support levels that needed to hold to maintain prices from speeding up to the drawback and also those crucial rate assistance levels, technological degrees, did undoubtedly hold," Wyckoff told David Lin, support for Kitco Information.
0:00 – Gold rate momentum
4:20 – Silver
7:50 – Expectation for near-term
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Gold and silver prices spike, but can rally last? Jim Wyckoff on the long-awaited bull market
Momentum has shifted back in gold and silver’s favor for now, said Jim Wyckoff, senior market analyst at Kitco News.
“When we last talked, the markets, both gold and silver, were in a near-term price downtrend. Remember, we talked about key support levels that had to hold to keep prices from accelerating to the downside and those key price support levels, technical levels, did indeed hold,” Wyckoff told David Lin, anchor for Kitco News.
0:00 - Gold price momentum
4:20 - Silver
7:50 - Outlook for near-term
__________________________________________________________________
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