A breakout in Gold & Silver!

In recent days we are seeing gold breaking out of its 4-month long pennant formation, and beginning a powerful move upward. Silver is following gold, crossing the $40/oz mark and setting its eyes on the $50/oz target, which is the all time high. This no doubt has to do with Fed chair Jerome Powell's announcement at Jackson hole, that they would start cutting rates this September. Easing monetary policy while inflation is still above the Federal Reserve's long term target of 2% serves as rocket fuel for precious metals. Together with Brian from the Mountain Bullion‬ YouTube channel we discuss the situation, analyze the charts and set new price targets for gold and silver.

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Music: Michael Kobrin - The Introvert
https://youtu.be/UufcCic_lQQ?si=J2inwAMODTDDvG3_

#gold #silver #technicalanalysis #money #investing