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Barchart
Barchart
Jim Wyckoff

Gold and Silver May See Profit-Taking on May 7. Watch Crude Oil Here.

The gold and silver bulls are out of the gate strong early this week. As of this writing, gold has tacked on $150 so far this week. Silver prices have added over $1. Precious metals bulls have gained momentum following recent big price setbacks that saw June gold futures (GCM25) hit a low of $2,970.40 on April 7 and May silver futures (SIK25) score a low of $27.545 on the same date. Since then, both metals have reestablished price uptrends on the daily bar charts.

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