Gold and silver grow higher

Gold and silver grow higher

The rally continues this morning. Gold, silver and platinum all grow higher. Platinum is the weakest of the group, gold the strongest. The pattern and price action remain bullish, indicating more room for maneuver. Like all markets, this rally will last until it doesn’t.

Many now view cryptocurrency as digital gold, which is wrong. Look at the models; Bitcoin lost 40% last week. However, we believe in the crypto space as an additional asset class. The advantage of cryptocurrency is simple, no intervention of the FED, the central bank.

All asset classes have many things in common; the price is determined by buyers and sellers who agree on a price. They all go through the same phases; they all tend. This is why we teach that all markets are the same; price action is all that matters.

The price action of gold and silver is very bullish as they appear to be increasing. Platinum has shown some weakness in recent days, but it remains slightly positive. The next stops for the Gold Race are $ 1,900 to $ 1,920 and the next money goal is $ 28.50 to $ 29. Until the price action changes, we are buyers.

Warning: The opinions 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 Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. This is not a solicitation to exchange commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.


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