Make Kitco Your Homepage

Gold, silver and platinum flex their muscles

Commentaries & Views

One thing we have learned the last couple of days is that there is underlying strength in the metals. Gold, silver and platinum were all in danger this week at one time or another, and all three managed to fend off the sellers and maintain their bull markets.

Gold has been under the most pressure for the last couple of weeks. There appears to be a big seller that shows up once a day usually around 9 a.m. EDT. Gold takes a big hit but has been able to recover and hold support. This does guarantee a run to the recent highs, but based on the pattern, we are long looking for higher prices.

Silver and platinum have been almost identical in price action. The only difference this week between the two is silver is higher for the week while platinum is slightly lower. The patterns are good and indicate the rally is not over.

Gold and platinum are lower for the week but still in solid consolidation patterns with an upward bias. Silver is up for the week but also in consolidation. We have no reason to believe the rally will not continue.

On Saturday, I will be sharing my Equity Portfolio Management model at noon EDT. Join me for some great information on how we use our algorithms. Register here: Saturday, May 30, noon EDT – Equity Portfolio Management

We are now offering a comprehensive commodity report that complements our other services. The Technomental Commodity Report comes out on Wednesday evenings and provides comprehensive fundamental and technical coverage of most commodities that trade on the futures markets in the U.S. and U.K., as well as stocks, bonds and digital currencies. There is a summary report on Friday after the markets close, and robust quarterly reports on each of the six commodity sectors and a general overview that recaps the past three months and offers projections and suggestions for the next quarter. Andy Hecht, the author of the report, has been a commodity trader since the early 1980s and has vast experience in markets across all asset classes.

Sign up here: Bubba Trading Technomental Report

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.