Gold Getting Ready To Blast Off
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
There is one thing we should all know as traders and investors -- there are no guarantees when it comes to markets. We should also be aware that trading is a game of odds and probabilities, and our job is to make sure that the trades we enter give us the highest chance for success.
As we look at the pattern in gold and the footprint it has been leaving, indications are that there is a big move coming and that it should be higher. The $1,180 low continues to hold, showing that the bottoms are most likely in and new money buyers are ready to step in.
We all want to know when this big move is coming. Of course, timing the market is virtually impossible and all we can do is look at the evidence in front of us, which suggest gold is going higher. The biggest lesson a trader can learn is simple. Before you enter the trade, make sure you know where the exit is.