Gold and silver are looking into trouble with their current price action. Suddenly, as so often happens, they become into bearish markets. Based on the current market, gold appears ready to test the 1900 level in futures of December; silver looks to 25.50 in futures of September.
We all understand the current price action and what is evolving. Currently, we are short, both gold and silver, based on our algorithm. The general direction for gold and silver will be lower until it is not. There will be rallies within the pattern and a down-trending market, but in general we will be sellers of rallies.
Platinum was able to hold off the recent bearish action in gold and silver and is still a long position in our portfolio. There are many warning signs and platinum. However, we do not think it is the next move; we let the price action, the pattern and our algorithm dictate the next trade. For today through tomorrow morning will be short gold and silver and long platinum. We do not think we are allowing the price action to dictate what is next.
Recording: Ultimate hedging of your portfolio. This model should be your savior on the next meltdown of the market.
Recording:
Save yourself Save your portfolio
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 the accuracy of the information provided; however, neither does Kitco Metals Inc. nor can the author guarantee such accuracy. This article is strictly for informational purposes only. It is not solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article does not accept any liability for loss and / or damage resulting from the use of this publication.
