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Gold remains in a tight trading range and we will have to wait for things to sort themselves out when gold either closes above $1640 or below $1550, because the back and forth movements in the $1550-$1640 range are just noise.  The odds continue to be in favor that the next $100 move in gold price will be to the upside.

Buyers are emerging every time gold is taken down below $1600.  Is there still one more takedown in store for gold at this time?  We will find out soon enough.

It’s typical for silver to peak with a vertical upward thrust, followed by a steep drop off and then a gradual base-building process.  The recent price basing action is consistent with the idea that silver is in the process of bottoming.  A break out could be imminent.

Please watch the following video, The Currency Wars:  CIA Advisor James Rickards Warn Americans of Coming Currency War: