Gold and Silver finally got some relief this week after roughly 2-months of grinding lower. The bounce off the 50% Fibonacci retracement for gold is encouraging, but that doesn't mean selling into year-end is over. There is always the chance of moving lower; time will tell. Silver's chart is looking better, but we aren't out of the woods yet. I expect gold to trade in a range through year-end. If we assume the rally started at $1,350/oz (in June 2019) or March 2020 ( approx. $1,480/oz.):
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