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Gold, silver and platinum slow enough to be closed

Commentaries & Views

Gold's trend finally reversed to long and promptly got hammered on Friday. The $16.00 drop is no big deal in the big scheme but painful just the same. As expected, volume is pathetic. In other words, there is a lack of interest in markets in general.

Silver has no interest now; the trading range is as tight as it's ever been. There is a huge move coming, which should still be down while in a downtrend. In 2020 Silver had a $19.00 range compared to $6.00 in 2021. Obviously, there is compression.

Platinum continues to break down and is now in danger of falling below $1,000. Although we no longer trade Platinum due to lack of liquidity as an investor, we believe this is a great buying opportunity. You must be prepared to add and hold; this is not for the faint of heart.

Remember, markets are in the dog days of summer, which means no volume, no trade, and moves that show up out of nowhere. Those moves last a short time before a mean reversion.

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

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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.