Loading ...James Turk: The question I am asking myself each day, Eric, is about sentiment. It’s whether the exuberance we saw in the precious metals the second week of May has dissipated. Once it has, the odds are that gold and silver will resume their uptrends.
You will recall the new record highs in gold just a few weeks ago, while silver broke above key resistance at $28. But the market became overstretched, and since then has been consolidating the gains both metals have made this year.
I’m focusing on sentiment for a reason. Other than sentiment, what’s changed?
The fundamental reasons that have been driving gold and silver higher remain bullish. The financial and banking problems remain, not to mention the ongoing potential of some hotheads sparking even greater geopolitical unrest…