Gold, silver and platinum another day and no change
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The redundancy of it all; gold, silver and platinum remain in a weak pattern. Every rally continues to be met by sellers. Tuesday, we saw a solid rally that turned lower on the day. They are mixed this morning; silver and platinum are slightly higher; gold is lower.
If you are a bull, the encouraging sign is the lack of conviction and volume. However, the trend remains lower, with no reason to believe a change is forthcoming. For every reason to believe metals are going higher, the prevailing trend remains.
The torment on congestion continues with December Gold holding 1800, September Silver 24.5 and October Platinum 1050. If those levels fail, the selling could accelerate. There is no absolute in any market, but these levels should be the key.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
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