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Gold, silver and platinum push higher

Commentaries & Views

The huge rally in metals rolls on; there seems to be no stopping them. All three are in the blow-off phase, and the buyers are suffering from FOMO (fear of missing out). This pattern and the huge rallies will end; however, this has triggered a buy signal, making us bullish in gold, silver and platinum.

We have been bullish gold and platinum all the way up and have added silver to the fray. We will be looking for a pullback to support levels to create additional buys. Silver was the last to confirm an up move, and depending on how the patterns develop, the possibility exists for a major bull market.

Looking into the future, we would like to see a small pullback followed by an extended period of consolidation. This type of action would be the best for a bull-market run. If the metals continue at their current pace, they are doomed to fail. Support levels are March silver futures, $18-$18.10; April gold futures, $1,590-$1,595; and April platinum futures, $990-$995.

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.