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Market Volatility Keeping Gold and Silver Quiet

Commentaries & Views

Editor's Note: Veteran trader Todd "Bubba" Horwitz will be bringing his insights and tell-it-like it is attitude to Kitco News every morning as part of a guest series on Wake up to Bubba and get what you need for your metal mornings!

(Kitco News) -The VIX which is known as the fear index for equities is keeping a lid on gold and silver. Both metals made their highs on Wednesday at 7:15 in the morning and then spent the rest of the day giving away those gains. Silver appears to have found a bottom at 16.00 while gold continues to struggle, with 1225 failing once again to hold that level.

With all the talk of a strong economy copper is still weak but may have found some support at 2.47. Oil had a nice dead cat bounce on Wednesday and should top between 48-50. The Loonie looks to have found a bottom as well. In general, all markets are extremely quiet waiting for a reason to move.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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