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Gold and silver – bulls frustration mounts

Commentaries & Views

The uninspiring rallies continue in Gold and Silver. They should have broken out to the upside, but they have not. The last three days' rallies have not instilled a lot of confidence in investors, failing each day to take out the resistance.

We remain short but have concerns that these attempts to break out to the upside may succeed soon, although they have struggled to this point.

This has been challenging for both traders and investors. Therefore, we constantly remind you that they are two different things, trading is short-term and could last days, weeks, or months. Investing is for the long-term, months to years.

The price action is consistent with these crappy conditions we are witnessing. Volume is light in all markets. Although we are short, we are passive, not looking to add to our positions currently. However, we have bought physical metals for our long-term holds.

Patience, discipline, and money management always win the day. Let the map of the markets show you the way.

Registration for our Monday July 12th at 5:00 PM EDT Strategy Call with Andy Hecht below.

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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.