Gold Appears To Be Headed Back To Support
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The metals have been in one of the most predictable patterns traders can ask for. Every level in the market footprint has resulted in a move that was expected. In other words, there have no surprises in the metals trade.
Although many look to the news or events to react to the price of gold and silver, the bottom line is the metals -- like every other market -- price in the events before they happen. This happens because the news flow is much faster than it’s reported and more predictable.
If you remember one thing in your trading and investing career, it should be this simple message. When the news hits the wires and TV, all the insiders, big banks and investors have already made their bets based on that news. When you see it, know that you are not the first and if you try to trade on it, you lose.