On the heels of the US dollar tumbling, we are seeing major breakout for gold and silver today as gold has surged $50 and silver is now trading above $25.

Silver Breakout
November 5 (King World News) – Ole Hansen, Head of Commodity Strategy at Saxo Bank:  …I highlighted silver as it was challenging the recent Gold/Silver trend (chart). Now broken Silver may see some additional outperformance with $25.25/oz being the next target.

Gold/Silver Ratio Breaks Down

Silver Now Set To Outperform Gold

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Gold Breakout
Ole Hansen, Head of Commodity Strategy at Saxo Bank:  
Today’s US dollar slump has seen Gold return to challenge resistance at $1930/oz. Primarily a dollar driven rally with XAUEUR trading almost flat and with no signals from the bond market.

Gold Has Broken Above $1,930 Resistance
Below, Now Trading at $1,940!

Gold Breakout
Alasdair Macleod:
  The signals from gold, silver and bitcoin are of accelerated monetary inflation. FOMC meeting today will likely conclude that political stalemate means fiscal stimulus cannot be relied on, so more monetary stimulus will be required. No wonder gold, silver and bitcoin all up.

Gold has broken out…

Major Gold Breakout Today!

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