Make Kitco Your Homepage

Gold, Silver Getting Ready To Move

Commentaries & Views

Editor's Note: Get caught up in minutes with our speedy summary of today's must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here!

Another day, another failure for gold to break out to the upside, which is consistent with the market footprint. It was just the other day when the gold bulls were chirping, and the buyers couldn’t get enough. Gold traded as high as $1,304, yet here it sits in the $1,290s.

Silver remains on a respirator. With the recent volume and volatility, the markets could be closed and no one would know the difference. Silver will break out of this range and will go up big or down big. Based on the pattern, the odds favor up but there are no guarantees.

The metals in general have been quiet and are the tale of two cities -- gold at the top end and should go lower, and silver at the bottom end and should go higher. The ratio between the two is 87-1, making a gold sell-off and a silver rally a real possibility. For now, the best trade is the one of observation.

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.