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Precious Pyrotechnics

This is a syndicated repost courtesy of Slope of Hope. To view original, click here. Reposted with permission.

The world of precious metals continues to be quite grim. Indeed, gold and its brethren have suffered tick-for-tick with the bond market.

The chart is crystal-clear: a right triangle pattern that has been quite plainly broken, and is at risk of much, much lower prices.

The same holds true for gold itself. Important support has been breached (which explains why, as I’m typing this, gold is down about fifty dollars an ounce!)

Silver remains “the least dirty white shirt” in the precious metals closet. It is down hard too, but at least the pattern still has a fighting chance.

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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