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Gold, silver lower but bullish

Commentaries & Views

Wednesday, both gold and silver had solid rallies. The move in silver was big enough to turn us bullish, making us long gold and silver. As we have written for weeks, when the signal changes, we will reverse.

This morning, we were fortunate enough to reverse at lower prices and lock in profits from the short silver trade. We will now look for pullbacks to support levels to buy. Platinum is still short; However, we no longer trade it. For our members, it’s too thin, but we do give direction.

Like all markets, gold and silver go through different phases and trends. You must also remember that you must determine the type of trader you are. Investing and trading have no relationship to one another. Too many confuse the issues and reasons to own an asset.

Bottom line: we are now long gold and silver, looking for higher prices. Make no mistake, as traders, we will be short again someday; we just don’t know how long any trend will last.

On Saturday at noon EDT. we are presenting our Hedging Program; you can view register below.

2021-04-24 Hedging your portfolio: Avoid the next Meltdown

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.