Make Kitco Your Homepage

Gold looks bad, silver undecided

Commentaries & Views

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.

On our Monday Night Strategy Call we talked in detail about Reddit’s WallStreetBets and why what they were attempting would fail. See recording below.

Recording: Monday Night Strategy Call Reddit’s WallStreetBets

We have also included a registration link for session 4 on Saturday February 6th at Noon EST

2021-02-06 Options Training Session 4 Register here

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.