Precious Metals Update

by Dan Norcini
Trader Dan

Not much has changed in the precious metals markets in spite of all the hoopla associated with the Bank of Japan meeting last week and the FOMC.

Both metals are trapped in sideways trading range patterns.

[…] As you can see from both charts, gold and silver had nice up-weeks but neither one has done anything conclusively.

The grinding consolidation patterns that have been in place since July continue.

Until we get a clear breakout, in either direction, they remain short-term oriented markets.

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