Make Kitco Your Homepage

Gold Lower, Silver, Platinum Higher

Commentaries & Views

The Independence Day holiday is over and markets are resuming their regular trade. Equities are exploding to the upside and the metals are mixed with gold lower, platinum and silver higher.

Gold, we have written the last couple of days, should consolidate somewhere around the $1,780 level in August futures before making a run to new highs and possibly all-time. The action remains bullish even with some selling pressure; $1,770 is the critical level that gold needs to continue to stay above.

Silver and platinum are both higher this morning; however, they are going in opposite directions based on their longer-term trends. Silver is broken out to the upside and looks ready to test $19 September silver and possibly take out the yearly high. Platinum is trending lower and should fail at 850 October futures should this rally continue.

Based on our algorithms, we are long gold, long silver, and short platinum. With the current action, we expect much higher highs in gold and silver and lower lows platinum.

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.

Mini Micro Futures Portfolio Management Recording

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.