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Gold and silver continue to follow the script

Commentaries & Views

There are times when markets do exactly what you expect of them. That is the case for gold, silver and platinum. They have consolidated while pulling back to support. This action could not have been scripted any better and is setting up for a much bigger move higher.

Gold has a very high probability of making new all-time highs, while Silver and Platinum look ready to make multi-year highs. The price action has been strong, on point and building momentum. The bigger move will probably take a couple of more weeks as it's building a solid base.

Markets never come with money-back guarantees, which is why you still must exercise patience, caution, and a willingness to accept that we are wrong and exit. We are long and have no expectations of failure, but we are always prepared for it. Money management trumps all.

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.

Price action determines what will happen in the next day, week, or months in all markets. 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.

Join us Monday March 14th 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.