Gold, silver - big week for the metals
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
It is another FED week; we expect more of the same. Inflation is transitory, although CPI was hot and expect more ridiculous excuses from the FED. The bond market will continue to push the FED to hike, but that is unlikely for now. The FED is wrong as they have been throughout history and like markets, we don’t expect this time to be different.
The FED has a sneaky plot to digitize the currency, making it easier with their plans and ignorance. Digitizing currency could be a massive boom for metals, especially gold. However, from a physical standpoint, we are buyers across the board. Although platinum is in a bear cycle now, we are physical buyers because of its long-term value.
Our models are long gold and silver; we would be short platinum as traders, but the market is not liquid enough for our members. However, this week we could finally see gold and silver break out of their tight ranges to the upside. There is no guarantee that the metals will break out or that it will be to the upside if they do, but all signs point higher.
Patience, discipline, and money management always win the day.
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