Gold and Silver Prices May Have Reached a Tipping Point
During this past summer there was a profound correction in gold and silver which was comparable to the correction that occurred in 1975. Around that time, gold prices dipped by almost 50 percent from peak to trough. Since its March all-time high of $1,030 an ounce, gold has completed a perfect 38.3 per cent Fibonacci retracement, bouncing back to current price levels. Silver also followed the Fibonacci sequence, albeit with a deeper 50-percent fall from March peak to the trough. An important factor to take in to consideration is that price corrections are unlikely to happen again in precious metals.…