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Gold Is Now Star Of The Walking Dead

Commentaries & Views

The AMC channel has a hit TV show called The Walking Dead. The way gold has traded for the past few weeks, it appears that the metal has now taken the starring role. Metals in general have become comatose at the lower ends of their ranges as they wait for a reason to move.

This type of trading action is very common in all markets. You see markets go through different phases and right now the metals are in the dead phase. Nothing has been able to move gold or silver as they hover near the lows.

There is a huge move coming and the metals will move 10% from current levels within the next few weeks. As the pattern compresses, that only indicates the move will be bigger. Each day the metals pretend they are starring in The Walking Dead, the bigger the move we will get. For now, we are long and will hold as long as the $1,235-$1,240 levels hold.

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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