Gold and Silver hold bull trends, Platinum fails
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
What a day we saw Wednesday in the metals across the board. Gold charged higher, reaching 1807 in August futures before failing miserably touching, 1767 and closing at 1780. The key was the close around 1780, which keeps the run to possible new highs open.
Silver mimicked gold and reached a double top from mid-May at about 18.90 in September futures before collapsing to 18.09 and closing the day at 18.28. The critical level of $18 keeps silver in a bullish formation suggesting a much bigger run to the upside.
Platinum, which remains in a downtrend, failed at 860 in October futures, indicating that the bear trend is still there. It appears that platinum is starting to consolidate, which can mean one of two things, either the Bertsch is over or it's resting before heading lower.
Saturday Micro Mini Recording: Saturday did a great webinar on our micro mini futures portfolio models. I have attached the recording for your viewing pleasure.