Gold, silver and platinum taking a rest

Gold, silver and platinum taking a rest

Posted on by admin

Like Monday, goldsilver and platinum are churning around the mean, all slightly lower. Looking back at Monday’s trade, gold spent the day on both sides of unchanged, while silver was higher all day but off the highs and platinum was down early and rallied hard late.

The metals continue to be strong and appear to be taking a rest before the next move higher. The current patterns suggest the rally will continue across the board as they rotate strength from one to the other.

Silver is the strongest, making new nine-month highs on Monday. The $19.75 level is now in sight, and it would be no surprise to see new yearly highs. Gold and platinum are in similar patterns but at different stages. Gold looks ready to pop and make another run at the $1,800 level in the August futures. Platinum looks poised for a run at $1,000 although still in consolidation. We remain long across the board and see no reason to believe that will change any time soon.

We are now offering a comprehensive commodity report that complements our other services. The Technomental Commodity Report comes out on Wednesday evenings and provides comprehensive fundamental and technical coverage of most commodities that trade on the futures markets in the U.S. and U.K., as well as stocks, bonds and digital currencies. There is a summary report on Friday after the markets close, and robust quarterly reports on each of the six commodity sectors and a general overview that recaps the past three months and offers projections and suggestions for the next quarter. Andy Hecht, the author of the report, has been a commodity trader since the early 1980s and has vast experience in markets across all asset classes. Sign up here: Bubba Trading Technomental Report

Leave a Reply

Your email address will not be published. Required fields are marked *