Gold and silver collapsing
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Pressure continues to mount on gold and silver, both continue to violate significant levels as the collapse continues. Metals like all markets go through these phases and eventually look hopeless. Usually, the markets find a bottom; however, at this point, we see no such bottom yet. Eventually, we will have one, just not today.
Looking at silver, only the BS from Reddit and the fake short squeeze stopped silver from looking as bad as gold. One thing we know for a fact, the trends are lower, and our new targets are Gold 1650 April Futures and May Silver 24.5. Platinum has now reversed. We will no longer be actively trading because of the lack of liquidity. I will continue to cover in my commentary. The market is sufficient for investing, not trading.
The equity markets are in dire straits as well and this could be the start of a major sell-off. We are not predicting but are now shorting the equity futures. This mess has been brought to you by the FED and new policies. There is one simple fact, we have huge inflation, but the FED continues to say not enough.
I remind you, trends last until they don’t. The key to successful trading is the ability to follow the trend and be willing to reverse and not being stubborn that you are right. The markets are always right opinions seldom are.
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.