The battle continues for gold, silver and platinum. The patterns throughout the board all look the identical uneven and like the latest rallies are over. In different phrases, they give the impression of being to be headed south and may speed up to the draw back until they discover some help quickly.
Full disclosure – we’re lengthy all three however very uncomfortable holding within the quick run. That is the time to determine who you’re. In case you are an investor within the metals, there may be nothing to do however search for alternatives to purchase at decrease costs. In case you are a dealer, you’re searching for the trail of least resistance to take a short-term profit.
Though we’re lengthy each at this level as a dealer and investor, the uneven situations may result in a reversal to the quick facet as a dealer. We’ll make no changes to our positions immediately; nevertheless, if June gold closes beneath $1,600, Could silver beneath $14 and July platinum beneath $700, we’d be reversing. For now, we watch the sloppy, uneven situations and watch our ranges.
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