Gold lower, silver higher
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
After failing at $1,860, gold has come under pressure once again. Gold looks ready to break through the 1800 level, possibly going to $1,750 based on April futures. The divergence between gold and silver is becoming clear, especially when we look at the ratio of 67-1 down from 120
As we wrote yesterday, gold and silver look like they are headed in opposite directions; fortunately, in the direction of our positions. Silver’s next real test to the upside is $28 March futures. Next week we will start quoting May silver, which is about the same price.
Platinum pushed up big on Thursday before reversing. This morning Platinum is slightly lower but still looks great. The new support level for platinum is $1,200 in April futures. If platinum holds the $1,200 level, we expect the rally to continue.
Our positions remain the same, short gold, long platinum and silver. The price action looks good for the positions we currently hold but is always subject to change.
On Saturday we are going to present our Hedging Model for the next class. Below is the link to register for this free event
We have also included a registration link for session 5 on Friday February 12th at 5:00 EST