Gold and Silver buyers continue to say the same thing the Duke Brothers said about Frozen Orange Juice in the movie Trading Places. “That can’t be right” is the famous line that is used in all markets. Unfortunately for them they are wrong because the markets are always right.

Manipulation, Central banks around the globe keeping the pressure on. It doesn’t matter, price discovery must always take place. Although many think the prices of Gold and Silver should be higher, they are wrong; price action dictates lower prices.

We remain short and expect Gold to follow Silver and Platinum taking out the flash crash lows. There is no doubt that the metals will rally again at some point. But for now the prices should continue lower with no signs of reversing.

In all markets price action determines what will happen in the next day, week or months. Keep the two strategies separate, the worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.

Patience, discipline, and money management always win the day. Let the map of the markets show you the way.

Todd Horwitz Chief Strategist
Stop being a prophet and make profits

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