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Gold remains weak

Commentaries & Views

Gold is flat this morning and has been churning on both sides of unchanged since last nights open. It appears that until proven otherwise 1750 April Gold futures is our next target to the downside. There is solid resistance at 1820, indicating all rallies to resistance should be sold.

Silver managed to hold major support on Friday and is higher this morning, although it doesn’t look good. 26.50 has replaced 26 as a support level. The talk of short squeeze appears to be over for now and Silver will find the path of least resistance.

Platinum continues to be the strongest of all and looks ready to make a run to 1200, possibly higher. The current pattern is strong with support at 1120. Platinum remains a buy on all pullbacks to support levels and looks ready to make a run to 7-year highs.

Our trading positions are short Gold, long Silver and Platinum. Remember trading and investing are different and we hold physical metals which are not a part of the trading model.

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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.