Gold Going Nowhere Fast
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold is going nowhere but it seems to be in a hurry, or at least traders and investors are impatient. A watched pot never boils, and gold will make the next move when it’s ready and not one minute before.
The most important components of trading and investing are not the news or opinions of others but the patience for the chart to guide you. All markets leave footprints or a treasure map of what’s going to happen next. We as traders or investors have to wait patiently for directions.
Many would like you to play the news, which never works because when news hits the street, it’s already old. You hear about the dollar and how it affects gold, but again you’re too late. Like with a fine wine, you must sit back and let it breathe while you wait for the markets to tell you what to do. It’s up to you to listen.