Gold and Silver will head higher despite any upcoming rate hikes

Gold and Silver will head higher despite any upcoming rate hikes


Today gold climbing higher and silver at 30 years high again , this indicates that perhaps we are over bought in the metals says Phil Streible, senior market strategist at Lind-Waldock, anything above $38 , $39 level on silver is going to be overbought , gold prices look like a possibility of double top in $1440 area so there is a potential of a pullback on a short term over bought basis but long term it still looks pretty great , in order to see any changes in the long term we need to have fundamental changes , the technicals look very solid , but unless the FED comes out and starts to indicate that it is going to raise rates there is no stopping this market from going higher , we are higher today despite that ECB announced it is raising interest rates , Phil does not think that any interest hikes are going to stop the market at all