Gold and Silver are popping to new Intra-week highs. If they hold these gains into the close, an interim rebound will be established. Gold should engage resistance between $1,235 and $1,250. However, an extended recovery could push prices back to test the $1,260 – $1,265 zone during the last week of July.
The rebound should terminate within the next two weeks. Prices are then expected to render a final decline before reaching the 6-month low…likely in August or early September.
I’ll cover more in the Sunday Newsletter.