Gold on its way to 1700, Silver 26
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
If you are a horse racing enthusiast, one of the biggest things to understand is the form a horse is running. Every one of us has good days, bad days and like horses, we have form. When happy, we may say rounding into form and of course, when things are bad, so is our form.
What does all this mean for gold and silver? Their form is good, but at the same time pressuring investors. Trends are the same as form and for now, the form says gold and silver are headed lower, gold to $1700 next and possibly a lot lower, silver to $26 with the next target $25.
The trends are good until they are not, gold’s trend has been down since making all-time highs in August. Silver trend is only a week old and can still go either way; however, the current trend as of now is lower. We only trade the trend and only buy and hold when we invest. If you can separate the two, you are well on your way to success.
On Saturday May 6 at Noon EST, Andy Hecht and I will be a webinar on our newest addition to our Technomental Commodity Report. Please join us and register below.