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Gold Remains In A Stalemate

Commentaries & Views

One day gold is going to make a big move up or down. Based on the price action, our expectations are that the move will be higher, but for now the metals are in a stalemate.

Traders and investors can wish gold up or down and give many reasons for their opinions; however, the only thing that will move gold out of this pattern of going nowhere will be the money.

There is no way to know what will eventually cause the breakout; we only know that it’s a 100% certainty that it will happen. We remain bullish based on the information we can see, which is simple -- the buyers are in control. With gold continuing to make higher lows, the footprints indicate the breakout will come to the upside. Until then, we will call this a stalemate.

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.