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No surprises for gold and silver

Commentaries & Views

On Thursday, we wrote that gold, silver and platinum should do some churning at these levels. That is exactly how they performed, whipping around before closing near the unchanged level.

Expect this type of price action for the next few days at least. In other words, we will see volatility with big swings only to close around the unchanged level. It would be surprising if there was a huge move from these levels. However, we don’t predict; we watch the price action.

Remember, we are long gold and silver looking for higher highs. At the same time, we understand that the best price action we could see at these levels would be consolidation while they build underlying strength.

Precious metals should be owned on a physical basis with capital that is not needed tomorrow or anytime soon. Trading should be done with paper, knowing that we can trade either side without emotions.

In all markets, price action determines what will happen in the next day, week, or month. 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 Saturday, I will be doing a Q+A on all products and all markets. You can email me questions ahead of time. This is a free webinar Saturday, March Noon EST.

2022-03-12 Q+A with Bubba

Join us Monday, March 14, for the Monday Night Strategy Call. The link to register is below

2022-03-14 Monday Night Strategy Call

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.