The Question Is, 'Will They Consolidate?'
Precious metals are very volatile and now the question, 'Will they consolidate now that they are at the top of their range?' It is a fair question because of volatility, for better and worse. If you sell, you could miss the next big big move, but if you do not sell, you could have made a better trade. The short term investment strategy is trumped in the long run, as the trend for gold price continues.
If silver consolidates it will be in the range of $30. If gold does, it will be at $1400 per Oz. How is that for round numbers. I picked them because they are right between the recent low and high. I expect the move to happen in the next 24 hours. I would then expect the next trading day to see gold get a big gain. I am still waiting for back to back 'up ' moves of the precious metals price. I think there will be a week in January where the metals gain 5%, and I think that should be a knockout punch on those who do not understand, gold is monie.