What Will It Take For Gold To Break Out Of Range?
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Consolidation continues to reign in the metals markets as they go up and down within a range. The big question continues to be: what will be the catalyst to break the metals out of these ranges?
There are several things that could do the trick -- the unrest in the Mideast and Syria, or the strength or weakness of the dollar, which remains in the same torturous congestion pattern as the metals. Only the shadow knows what event the markets will react to and break them out of these ranges.
This week, we saw a big up move on Wednesday and a big down move on Thursday, only to end up in the same place where prices started. This is the story of consolidation, which is the toughest pattern to trade. There is a big move coming. Direction is unknown and because markets don’t announce themselves, one day it will just show up.