According to JP Morgan, an eventual push lower in real yields as the Fed moves towards cuts will catalyze further upside for gold prices in the coming year.
Savage is calling for a huge bull market in gold. A move to $5,000 is easy for this many years of consolidation, and $10,000 gold is not out of the question.
The next 2 days will decide whether a short-term top has been formed in gold and silver or will the rise continue. I am against buying gold and silver at current price.
Gold-futures speculators' leverage enables them to bully gold prices. Despite some of the largest shorting on record and resulting investment selling, gold proved resilient.
I expect spot gold to trade over $1956 key resistance. For spot silver, I will look for the ability/inability to break past $25.00 today and next week.
