Gold Remains In A Stalemate
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
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.