Gold looks bad, silver undecided
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold continues to look bad, especially if it goes back under 1800 April Futures. At the moment, we see a dead cat bounce off of the hard sell-off on Thursday and this morning's monthly jobs number. We are short and don't see a change for quite a while.
Silver looks like it is stuck in indecision. Monday's massive rally on the possible short covering has quickly disappeared and now fighting to hold on. 26.00 is the key to watch in Silver, failure there and we can kiss it goodbye for a long time
Platinum continues to trade in a range and uptrend. Platinum is the strongest metal right now, a breakthrough 1200 could take it to 1300-1500. The trend is solidly higher and will be that way until it isn't. There is no way to time these markets.
Always keep this in mind, what is written in this commentary is based on short term trading and what my exact position is on any given day. However, I own and will continue to buy physical metals on a regular basis, no matter what the trend is.
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