Make Kitco Your Homepage

Gold and silver at resistance

Commentaries & Views

The metals continue churning in a range and are consistently failing at resistance levels. You can look for reasons why gold and silver should go higher, but nothing determines the next move in any market than price.

If you are investing for the long haul and have no intentions to sell, by all means buy and hold. For now, the metals are headed lower despite the news global events and whatever you would like to use to convince yourself that gold and silver are going higher.

It’s interesting how investors like to trade on the news, which has already been priced into the market. Other than a black swan event that can’t be predicted or priced in, price action determines the next move. For us nothing has changed, we are sellers of gold at $1,500 and silver at $17.90. It’s that simple

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.