Volatility Back in gold and silver
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold and silver buyers should start celebrating in a small way for now. Volatility appears to be back in the metals, which in this case should be a bullish sign. The volatility should lead to higher prices in gold and silver.
Although we are still short silver, it's apparent that more than likely, the bottoms are in, and a rally is on its way. We can't predict exactly when, but it really doesn't matter. We are only trying to get the bulk of the move. We never sell tops or buy bottoms; we are always waiting for our algorithm to trigger a new trade.
We are already long gold since the end of last week. Our next target in gold is $1,800. We believe it can go higher but will not make ridiculous calls. We can only watch and look for one level at a time. Predictors and Prophets always end up bust. Discipline and patience are the only way to trade.
Have your rules and never deviate from them. You will be a lot happier over time. The one great call you could make will costs you thousands in opportunity costs later.
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