Gold and silver at resistance
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
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