Gold, silver end the year with a bang
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold and silver are breaking out to the upside and preparing to test the recent highs. After being short from the last rally and now long from the bottom end of the range, it appears the metals are ready to run.
Markets are relatively simple to trade as long as traders and investors understand the footprints that are left behind by the money. The footprint suggests the metals are breaking out to the upside and should test the recent highs made in August and September.
Market direction is driven by money, which then determines the strong and weak hands. The strong hands are now the bulls, which should keep the rally rolling. Until there is price action indicating a change in direction, we will be long and looking for new highs. We know that there is no way to know when this will change, but for now the metals are going higher.