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Jobs Friday - what's in store for gold and silver

Commentaries & Views

Today is Jobs Friday which will influence gold and silver. Yesterday, gold, silver and platinum got clobbered. This morning before the number gold and silver are flat with platinum slightly lower.

There are many reasons to believe the selling on Thursday could continue today. One of the biggest fears is the FED comments on rising yields which is a real possibility especially if you have been watching the fixed income markets. They have been telling the FED for months that they must hike rates.

It is our belief that gold and silver have already accounted for higher rates. The trend is higher, and we remain long. Certainly the trend can change at some point however all signs point to higher prices in gold and silver, until that changes, we will look for higher prices.

Those who try and trade the news usually lose, markets are about price action and not news. With the internet news is old before it comes out and most asset classes price in news before it ever hits the tape.

Patience, discipline, and money management always win the day.

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.