-
TD Securities tactically short gold and silver after Monday's blowoff top
Surging bullish momentum in gold and silver created a blowoff top Monday and with prices still elevated, one Canadian bank is expecting to see some solid selling pressure in the near term. Gold prices established a new all-time high Monday at $2,152.30 an ounce; however, the precious metal was unable to hold its gains and is now trading Tuesday below the critical psychological level at $2,050 an ounce. February gold futures last traded at $2,047.80 an ounce, up 0.47% on the day. At the same time, silver prices surged above $26 an ounce and were hit with the same selling pressure as prices are trading below $25 an ... (full story)