Swiss Vote No, Precious Metal Bulls Stir…Say what?

The news everyone’s talking about this week is Swiss voters overwhelmingly rejected the gold referendum last Sunday (Nov. 30th) that would have forced the Swiss National Bank to turn its gold buying into overdrive.

As expected, gold sunk to a 3-week low Monday morning on the news. But the yellow metal made a surprising comeback and climbed above the $1200 level due to lower stocks, rallying oil prices, and signs of an economic slowdown in China and Japan.

According to Hard Assets:

The technical picture in gold is improving. The bears are still in control, but the bulls are showing some signs of life.

Silver Investing News notes that silver also had a strong December. Click here to read more…

Photo coutesy of resourceinvestor.com

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