Gold remains weak
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
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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We have also included a registration link for session 5 on Friday February 12th at 5:00 EST