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Gold, silver and platinum should go higher

Commentaries & Views

After Monday’s big rally in gold and silver, they have confirmed the breakouts and should continue to run higher. Platinum was the weakest of the group on Monday but held support and should join the party with Gold and Silver in moving higher.

The patterns are very clear indicating there is a lot of room to run on the upside. Based on Monday’s huge rally, expect Gold and Silver to consolidate for a few days possibly trade lower. However, the trend is clear, and the move should be higher.

One thing you must always remember about trading, there are no guarantees that the rally will continue even with all the signs pointing higher. Trading is about discipline and taking the loss when wrong. We have our expectations based on what the markets are telling us today and that is always what our decisions are based on.

As of today, we are long Gold, Silver and Platinum. We will stay long while the pattern is supported. Our expectations for now are April Gold should see $2,000, Mach Silver $29 and April Platinum $1,200. Those are our first targets; we will ride the trend until it changes.
 
Tradier (one of our brokerage partners) is offering a 6 Session Options course starting this Saturday January 9th at Noon est.

2021-01-09 Options Training Session 1

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.