Gold and silver lower again
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Although this is being written very early in the morning, gold, silver and platinum are lower once again this morning. It now appears they are going to test the recent lows; the failure to breakout could lead to heavy selling.
Of course, we are not predicting anything more than we expect the trade of metals to remain under pressure; gold looks to test $1,700, silver $24.00 and platinum $1,150. Our biggest concern is the lack of overall interest in any market.
Volumes across all markets has dried up, leaving the potential for big moves in either direction. The moves for gold and silver should be lower and could extend; however, with this trade, it will not take much of a rally to reverse.
Periods like these always create the toughest conditions for active traders for several reasons, the biggest being lack of activity. Dull and quiet markets leave the door open for quicker changes. Therefore, we choose to trade mechanically and leave our emotions and opinions out. Afterall, trading, investing and speculation are about money. It's that simple.
On Saturday April 17 at Noon EDT, we will be presenting out Equity Portfolio Management Program, you can register below