“So far, in the first few days of trading in the New Year, gold and silver are largely holding their gains and continuing to chop around.  So what does the action mean? Has gold bottomed? Ditto for silver.  Or, is a January low off the table now, since both metals have rallied?  I see two scenarios right now for gold and silver. Ranked in order of probability, they are … First, the recent rally is nothing more than another bout of short-covering, one that will soon give way to another crushing decline.  Second, the recent rally could be indicating a cycle inversion.”

http://www.moneyandmarkets.com/two-scenarios-right-now-for-gold-and-silver-57333

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