Is The Precious Metals Pullback Over?
The recent pullback in precious metals, particularly gold and silver, appears to be nearing completion. Gold, after a period of being overbought, is now oversold within an ongoing bull market, suggesting a potential rebound. Analysts expect gold to reach $5,000 by 2026, supported by major institutions. Silver, while also oversold, is positioned well for a push above the critical $50 level. Both metals are forming consolidation patterns, with their next moves dependent on how these patterns resolve. A spike in overnight repo demand adds to the market's volatility context.
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