Gold all dressed up, no place to go
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Gold, silver and platinum are all positioned and ready to go to the prom. However, it looks like their date is going to stand them up. This is what markets in consolidation feel like, hopeless. This type of action is another reason we trade mechanically without emotion.
Our algorithms are long across the board and we are expecting a big rally. Unfortunately, the metals haven’t been unable to get out of the starting gate. With the Kentucky Derby tomorrow gold, silver and platinum are the early morning favorites to rally. There are no guarantees, but we remain long.
Trading and investing are not easy and are filled with emotions. This is just another reason we take our opinions and emotions out of the equation. The facts are simple, as of right now the trend is higher; however, the metals are consolidating. We have placed our bets to the long side and will sit back and relax until the trend changes or they go our way. It’s that simple
On Saturday May 1 at Noon EDT, we are going to repeat our Hedging Program which includes the precious metals. Last week’s presentation was interrupted by some issues with Zoom, and many asked for the presentation to be repeated.