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AAAU - Silver And Gold Remain Best Performers Other Commodities Getting Real Cheap
Goldman Sachs Physical Gold ETF
We knew it was coming… The correction in the precious metals we talked about in our last blog post is now a reality. As we mentioned in our last post, we believe these corrections are healthy. Old resistance for silver at $17.50 per ounce is now support. Ditto for old resistance at $16.00 per ounce. Silver can decline as low as $16.00 without seriously damaging the current uptrend.
Data source: Reuters/Datastream
Silver is still overbought despite its recent corrective price action, so it may take a few more weeks for the current correction to become