Gold and silver break multi-year support

Gold and silver have broken multi-year support. Usually, such a strong move down will lead to a quick counter-trend rally. However, I suspect that such rally will fade and new lows will be established. If the secular bull market is over, prices should slowly drift downwards and reach an eventual target of gold in the $700-$1000 range, and silver in the $10-$15 range.

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