Gold, silver and platinum higher
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The metals continue to show some strength and could start to run higher. After a couple of false starts, gold, silver and platinum are once again building momentum to break out to the upside. They are all at key levels of resistance. Gold must break through $1,715 in the June futures, silver $16 in the May futures and platinum $750 in the July futures.
With the Fed continuing to scramble with monetary policy, the case for metals becomes stronger. Combine that with the patterns and the metals could be off to the races. The only questions are the volume, which is low, and general market conditions.
There is no reason to believe the rally in the metals will not last for an extended period of time. We remain long but understand the price action can change and we could reverse. Trends last until they don’t, and for now the trend in metals is higher.