By now you should have read that both gold and silver are in and still in the bear territory, since 50MA is still below 200MA. However, since July, we have seen both trending upwards. Is it a buy signal?
Looking at gold TA, there are still a number of resistances;
1. First gap down(first oval), though this has been filled by the last few days
2. 2nd gap down, which it still has some way to go
3. And it is still way below the 200MA
Above observations applies to silver as well.
At the newsfront, based on an article by Bloomberg, one of the most bullish investor in gold had cut stake by half.