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Contributed Commentaries

Metals bulls get the benefit of the doubt

Jonathan Da Silva

Kitco Commentaries | Opinions, Ideas and Markets Talk

Featuring views and opinions written by market professionals, not staff journalists.

Commentaries & Views

The monetary metals continue to show strength, with gold over $1,850 this morning and silver blasting back through $22.10 overnight. Platinum is peeking over $1,035. Weekly closes in platinum over $1,035 have led to follow-through moves higher 100% of the time going back to 2016. The below chart illustrates how technically significant the $1,035 level is for platinum investors.

The big data point on deck this week will be CPI, coming out Friday. Traders should expect to remain nimble as the return of intense volatility could be on the horizon in anticipation of the inflation-related data.

Thanks and have a great week.

By Jonathan Da Silva

Contributing to kitco.com

Contact jdasilva@kitco.com
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.