Gold getting crushed, $1,600 here we come
(Kitco commentary) - Through all the hate mail and the gold bugs telling me that gold was going much higher, we remain short and are on track for our next target of $1600. The price action doesnt lie; you cant fight the tape nor the trend.
Sell Wilson sell; gold is heading South
(Kitco commentary) - If you remember the great movie Trading Places, one of the classic lines towards the end of the movie was "sell Wilson sell." That would be the stance we would be taking on gold now, sell. Every rally has failed, and gold is a heavy favorite to go below 1700.
Expect a natural bounce in gold, silver, and platinum
(Kitco commentary) - As we watch the price action in the precious metals, there is no doubt that we will see a natural bounce from oversold conditions. The speed and angle in which gold and silver are falling is too fast, too steep, and will see an oversold bounce.
Gold is falling and can't get up
(Kitco commentary) - The interesting thing about markets, just when you think you have figured them out, they do the opposite. Just six trading days ago the precious metals looked ready to run, we reversed our silver position to long. Since the peak on August 12th the metals have closed lower every day.
Gold rush or gold crush
(Kitco commentary) - Just when it looked safe to get back in the gold waters, the sharks once again ripped the heart out of the gold bulls. Golds failure to break above resistance was a warning sign. Last week, we wrote about the key resistance level that gold needed to break through; it failed.
Gold at resistance, silver at support
(Kitco commentary) - It's amazing how similar or correlated products cab really trade in opposite directions. Gold and silver are doing just that. Although they look similar in the charts, silver is in an uptrend as gold remains in a downtrend. This morning both are lower.
Silver breaking out to the upside, will gold follow?
(Kitco commentary) - Silver has reversed and broken out to the upside. After a week of consolidation, the buyers showed up and pushed silver through the top. Gold has been in a similar pattern, just a little weaker than silver, but an up day today should be enough to trigger a reversal.
Jobs Friday gold and silver poised to move
(Kitco commentary) - Today is jobs Friday. What does it mean and why is it so important to the precious metals? Other than in people's minds, jobs Friday is a worthless number that is not reported properly and is constantly revised.
Gold and silver rally, real or trap
(Kitco commentary) - After the horrible trade the last couple of days, gold and silver are charging higher. The real question: is this another trap, or is the rally real? Unfortunately, we dont know the answer; this could be the next leg up or a great selling opportunity.
Gold and silver fail miserably
(Kitco commentary) - For a few days it appeared that gold and silver had found a bottom. There was hope that the lows were in, and a rally was coming. Once again, they failed to take out the resistance levels and sold of hard from the Tuesday highs.
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