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It’s true, gold is breaking out to the upside

Commentaries & Views

Gold has finally broken out to the upside with Thursday’s bullish action. It has been attempting to break out for weeks but kept failing, leaving a bearish tint around the yellow metal. We have reversed gold to long

Silver and platinum are still struggling to hold critical levels and Thursday’s action, until proven otherwise, was a dead cat bounce or short-covering rally. Silver and platinum are quite a distance from breaking out to the upside and we remain short.

Our expectations are mixed; the gold rally could fail, reversing gold back to short, joining silver and platinum. Or the bearish trends in the others could reverse, and we could belong across the board. There is no real way to tell but watching price action, which is split.

Too many believe they can forecast the future, which is an idiot’s game. Traders can follow trends and price action, making the highest probability trade. We have stated on multiple occasions; our win rate is 66% leaving us a favorite to be right.

Patience, discipline, and money management always win the day. Let the map of the markets show you the way. Guessing the next move is a fool’s game

This Saturday July 31st at Noon EDT I will be presenting our 2 new portfolio models, 1 equity 1 futures including micro-Bitcoin. You can register below

New Portfolio Models presentation

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.