The amazing run in gold, silver and platinum roll
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold and silver are on an amazing run, platinum now joining the fray. There recent runs higher. It is something more like spectacular, however, remember that everything comes to an end. We are not predicting it’s over. However, reminding you of that simple fact.
Gold is almost 15% higher than three weeks, which is unreal on its own. In that same timeframe, silver is rallied almost 60% and platinum 20%. The price action remains bullish. We have stayed long throughout, will not reverse anytime soon but are aware of how markets work.
Today is the jobs number, the expectations may have contributed to this recent rally. Other factors are the Federal Reserve and their clueless policy, the weakening of currencies, interest rates worldwide are destroying the ability for asset classes to price themselves.
Price action remains bullish but markets never announces intentions of when you switch. News items can be bullish one day in bearish the next. It all depends on interpretation from markets at any given point.
We remain bullish with no intentions of reversing. However, at this point we would not be adding. We are expecting a pullback and wait to see price check when that happens, meantime, we will ride gold, silver, and platinum, as long as prices dictate the bull market.
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