Gold Investors Getting Nervous
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
For the last few days, the metals have been under pressure, testing support at the $1,280 level and fraying the nerves of gold and silver investors. Too many of them watch the news looking for reasons to panic.
Traders and investors should take the time to watch the money flow instead of the news. The charts, money and trading action are the most accurate ways to understand what markets will do next.
Pundits, market news and chat rooms do more to mislead investors than any other single thing that affect markets. The footprints that show up in the charts are all a trader or investor need to create the highest probability investment.
Support in gold held perfectly on Monday and should continue to do so. We remain bullish as long as gold holds $1,280. There is no reason for concern until gold closes below $1,280 for a couple of days.