Gold likely to drop to $1483, Silver potential drop to $17.34, that is strong support so bulls should get at a minimum a bounce but I tend to lean toward a double bottom. Eventually, Gold will breakout to $1600 within next couple months even with my most bearish case where it breaks down to early $1400s. With any doubt on Gold and Silver just simply look at the monthly charts. Fed just cut rates last week which is bullish. One of the concerns I saw was that the Fed was not going to continue cutting rates, yet Fed president was on CNBC yesterday saying that the fed had many more rate cuts in store. Not to mention the QE that we unofficially started last week.
