Gold, silver and platinum head south
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
As expected, gold, silver, and platinum are heading lower, maintaining the current trend. While platinum and gold are weak, silver has broken down, indicating the selling could accelerate.
Gold and platinum are approaching dangerously close to levels that could be a total breakdown as well. Volumes have been moderate, giving no indication of reversing or collapsing. We can only play the current trend, which leaves us short until the pattern changes.
We must all be clear that the current trend can change without notice and not getting too stubborn about direction, long or short. Remember, trading is something we do that can last days, weeks, or months. The longest time frame says there will be higher prices over time. For now, we remain short the futures and holding physical.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
The Monday night strategy call will be this Saturday July 24th at Noon EDT. The call is with Andy Hecht register below.