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Christmas Comes Early For Gold And Silver Bulls – Mike Swanson (12/24/2019)

Tonight will be Christmas eve, but Christmas is coming early for gold and silver bulls as the price of gold rallied yesterday to close above its 50-day moving average and test key resistance.

Many gold stocks actually went to new highs as NEM closed for a new 52-week high for the year yesterday and so did silver giant PAAS.

Some mining stocks are providing great entry points on their charts. Take a look for example at RGLD.

RGLD has built a nice base to launch its next rally off of. Once it closes above $120 it should begin. Anyone could buy its now and put a stop loss on it under $115, the points of its 150-day moving average.

That creates a low risk/high reward setup.

And my top stock pick for December is inching up again after making a new 52-week high earlier this month. Check it out here.

I did an interview with Jim Goddard of about the overall markets and gold and silver. To listen go here:

Have a great Christmas!


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