KITCO NEWS - Although gold (GLD) prices are solidly lower  Wednesday, hitting 10-month lows, Kitco's senior technical analyst Jim Wyckoff sees light at the end of the tunnel. 'On a longer term basis, I do think that gold prices at present values are longer term value-buying opportunity,' he told Kitco News. 'I don't think I'm going too far out on a limb when I say that I think in the next decade, or even sooner, we'll see gold at new all-time highs.' February Comex gold futures settled the day 1.4% lower at $1,173.90 an ounce. On silver (SLV) , Wyckoff says he'd expect sideways to lower trading over the short term. 'Both gold and silver markets are firmly in bearish technical posture.'

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.

More from Video

Video: Don't Underestimate China's Strength in a Trade War

Video: Don't Underestimate China's Strength in a Trade War

5 Investing Podcasts Perfect For Your Beach Weekend

5 Investing Podcasts Perfect For Your Beach Weekend

Menswear Designer Joseph Abboud: From a Boston Suit Factory to Wall Street

Menswear Designer Joseph Abboud: From a Boston Suit Factory to Wall Street

Podcast: Why Trump Doesn't Want a Soft Brexit

Podcast: Why Trump Doesn't Want a Soft Brexit

Jim Cramer Reacts to Bank Earnings: JPMorgan, Citigroup, Wells Fargo and PNC

Jim Cramer Reacts to Bank Earnings: JPMorgan, Citigroup, Wells Fargo and PNC