Friday, December 29, 2017

Final trading day of 2017 sees gold and silver prices recover to over $1300 and $17

It has taken almost three months, and not since the early part of October for the gold price to move back over $1300 per ounce, but this is exactly what the markets are ending the trading year with here on Dec. 29.

Due to a continuous move upward ever since the Fed raised interest rates on Dec. 13, the gold price has now fully recovered its 50, 100, and 200 day moving averages and looks to enter 2018 with some serious positive momentum.

In the meantime, silver has moved sharply upward and has breached the $17 mark for the first time since late November when it was slammed down into the middle $15's.

If both gold and silver can hold these resistance levels ($1300 and $17 respectively) through the end of the trading session, chances are very good that the bull market will carry over strongly into January and the new year as momentum is favoring higher prices.


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