Silver Doctors Midweek Metals report!
Gold is consolidating around $1180. There’s resistance near the $1200 level. Gold has been hovering right below that level, and if it breaks through, it could go much higher as the specs scramble to cover their shorts.
In our interview last week with the GATA’s Bill Murphy, the PM Expert advised gold and silver could make new highs this year.
For silver, Murphy is looking for the volatile metal to first break through $17.20, then the 2016 high near $21.
On Friday, the last jobs report under Obama’s presidency was released. It showed eighteen-thousand people moved out of the labor force in the last month. The labor force participation rate lies at a near 35-year-low.
Tuesday, President Obama gave his farewell speech. Also on Tuesday, BuzzFeed and CNN shared an unsubstantiated story about Russia having compromising information on president-elect Trump. As of today, it is only nine days before Trump is inaugurated. In a press conference today, Trump refused taking a question from a CNN reporter, calling CNN quote “Fake News.”