New Year same price action for Gold
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The new trading year begins today. It is too early to make a call on Gold, Silver and Platinum. However, as the new year begins, we are long Gold and Silver, we would be long Platinum except for its lack for trading liquidity.
Looking at the big picture, my guess is we will see much more volatility in the metals this year. The tight trading ranges from last year will resolve and make more extended moves. Remember all time frames revert to the phases and cycles of all markets.
If I were to make an educated guess, the trading will be much more volatile this year. It would be no surprise to see Gold trade down to 1450 and also make new highs this year. I expect both as the ranges should widen. Volume should pick up and prices could be wild.
In all markets price action determines what will happen in the next day, week, or months. Keep the two strategies separate, the worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
On Monday January 23rd, 2022, we will resume the Monday Night Strategy Call at 4:30 EST