Gold and silver fail late, remain short
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Tuesday saw some interesting action in gold, silver and platinum. Just when it looked like we were setting up for a trend change, they all sold off late. Silver was lower the on the day.
Today we could be saying here we go again, gold, silver and platinum are charging higher once again. However, this is why we do not react during the trading day, too much emotion. This action is especially true when markets are thin and slow.
We will be short until at least tomorrow; if the metals reverse again like yesterday, there will be no change. Remember, we are trend traders and only trade the math from our algorithm. There is zero opinion in our positions.
As an investment, you can always by gold, silver, or platinum with money earmarked for long-term capital. If you want to trade, use the paper futures, ETF’s and stocks. Investors should be buying physical and never confusing an investment with a trade.
Patience, discipline, and money management always win the day.
Below is a recording for Monday Night’s Strategy Call, July 5th with Andy Hecht below.