Disappointed is the word. Yes gold and silver fell as investors switched to bitcoin. In the short term the inverse correlation between gold and bitcoin will continue. This failure of gold to break past $1300 will result in more and shorter selling at higher prices. Silver continues to range trade. It will break free from the $1660-$1740 trading range and form a new range very soon. Political issues from the Eurozone failed to impact the euro as investors focused on economic fundamentals. News will be the key.
Gold, silver and copper December futures are expiring in ten days time.
This post was published at GoldSeek on 21 November 2017.