Gold and silver may be ready to dip lower to accommodate a deeper sub-cycle correction. Because we are almost exactly at our entry point for our long position in gold, I am going to unload this position now with very little or no loss and stand aside the precious metals for now. We were already stopped out of our silver position last week so we are now out of both gold and silver. Selling my long position in gold today.
If we do get a deeper correction, we will be looking to buy again as both metals still look bullish medium-term to long-term.