Melman on Gold & Silver
June 2015 by Leonard Melman...further strength in the Dollar, weakness in Crude Oil, and potential bearish action in gold and silver may yet be ahead.
…this being our January 2021 edition, we offer our forecasts for gold and silver during the coming year. Hint: I hope I am not being overly-optimistic.
After six years of primarily sideways action, gold broke decisively to the upside by breaking above strong resistance between $1,350 and $1,400 by soaring to near $1,450 before correcting moderately.
Several of the large banks are being investigated for illegal trading by the Department of Justice under the Trump administration, and some have already been indicted.
This general time frame appears to be a particularly important juncture in the precious metals markets and, therefore, we should present clearly understandable reasons why our opinion leans heavily toward continuation of the precious metals bull market...
We have heard much “tough talk” through the years regarding reining in the regulatory excesses of government agencies in the past, but little action has followed those words. Perhaps we will finally see a genuine move away from excessive regulation.
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