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Is today the day that gold and silver take off?

Commentaries & Views

The setup for gold, silver and platinum looks like a launching pad with the rockets ready for blastoff. There is no guaranty that today will be the day; however, they are up nicely this morning. We expect a huge move, but patience is the key.

Many cases are being made for gold to go lower, higher interest rates among them. We warn traders all the time that correlations are often already priced into the market and they don’t have to react at the same time. The simple facts are: the trend is up, they are breaking out above congestion and the FED interventions makes gold, silver and platinum stronger.

Since the bottom a few weeks ago, gold, silver and platinum have been trying to build momentum. Based on the recent price action, it appears we are seeing that type of move developing. We make no promises; we only disclose our positions. We are long gold and silver in the Futures markets; we are long gold, silver and platinum in the physical market.

Every Monday, Andy Hecht and I I do a strategy call starting at 5:00 EDT. Here is last Monday’s recording

2021-05-10 Recording: Monday Night Strategy Call

We had a Farmer Hedging Q+A on Saturday. Here is the recording

2021-05-08 Farmer Q+A

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.