Gold Rally Rolls On
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
On Friday we asked the question -- could the gold rally continue? The markets have spoken with a resounding yes. Gold traded as high as $1,237 this morning. The next key level to watch is $1,240. A breakout above brings $1,275 into play.
The most important thing to remember now is not to chase the market higher. If you missed this rally, there will be other opportunities. Don’t let the fear of missing out control your investing life.
All markets retrace big moves up or down, and this time will not be different. The rally has been exactly as written, but there is no doubt that profit takers will show up at some point and push markets back down. We will look to be buyers on a pullback to $1,220. If you missed this up move, you will have another chance.