Gold and silver continue to struggle
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Featuring views and opinions written by market professionals, not staff journalists.
The struggles for Gold and Silver as they wind in a tight consolidation pattern, including weak rally attempts. The price action is negative and should lead to a breakdown in Gold and Silver. Platinum is the strongest of the group. However, at under $1,100, there is not much to brag about.
Although this week promises to be slow with the July 4th holiday coming up, a few drivers could create action that could be fast and furious in either direction. Tomorrow is the month and quarter-end, plus the jobs number on Friday. This could create a vacuum effect, large movement on a big order for a short period of time before reverting to the mean.
This is a great week to be passive, not aggressive, and can create more grief for traders. Add in the strong dollar and it adds up to more weakness in Gold and Silver. We will remain short until the trend changes, which does not appear close. We know that markets do not announce themselves and anything can happen.
Patience, discipline, and money management always win the day.
Recording from Monday June 28th Strategy Call with Andy Hecht below.Monday Night Strategy Call Recording