Gold and silver were able to make their way up again on Monday. But in the end the precious metals ran out of strength. Most mining stocks also had to say goodbye to the daily highs. In Australia, the trend continued – the longer the trade, the further most gold company stocks slipped into the red. Everything now indicates that the next few days will be all about correction.
It only went up – but whats next?
After gold and silver had practically only marched up in the past few weeks, numerous technical indicators were overheated. And although – as written yesterday – there was a chance that gold and silver will make yet another high, the risk of a correction had increased with each passing day. At the moment the situation seems to want to cool down. The price of gold has slipped below the $ 2,000 mark, and the price of silver has called off the attack on the $ 30 mark for the time being. But, as has already been written several times, a setback should be a welcome buying opportunity for those who have not yet invested in the sector or who want to increase their stocks in gold and silver mines.