Make Kitco Your Homepage

Gold fighting to break to the upside

Commentaries & Views

After testing the recent lows of $1,850, December gold futures have been trying to breakout to the upside. $1,910 has been the stumbling block where gold has failed the last three days. The long-term trend is still short and failure to take the $1,910 level out, will bring gold back to $1,850 and possibly lower.

We expect the metals to continue to fail, with the downtrend continuing until it doesn't. Silver is in a similar pattern to gold with one exception, it is slightly lower. Platinum appears to be having a dead-cat bounce or a short-covering rally. In other words, the downtrend continues across all three metals.

Always remember these commentaries are based on trading the metals, not investing. Our signals change once a day, if at all. We are trend followers and always catch the biggest moves, either long or short. We are short, gold, silver and platinum.

Based on this morning's action, we will still be short tomorrow into the monthly jobs number.

Always remember the difference between a trade and investment, the two should never meet.

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 US and UK, 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.