The struggle continues as the metals once again try to breakout to the upside. While we expect a big rally the torture of consolidation is still firmly in place. The trend is higher, and we expect a run at the highs, but will investors have the patience to wait?

This is always conundrum for investors and traders: the difficulty of waiting. Although Gold and Silver have slowly attempted to move higher, the bottom line is they haven’t moved in weeks. There is no reason to be impatient or try and force the move. Sometimes the best trades are doing nothing.

When you weigh the action in Gold and Silver, add the trend, it equals a higher probability of a rally than a sell off. Obviously, there are no guarantees, but we remain long and will do so as long as it takes to breakout to the upside or reverse the trend. It’s that simple.

Todd Horwitz Chief Strategist
Stop being a prophet and make profits

Tonight, is our Monday Night Strategy call, Andy Hecht and myself will talk Gold, Silver and the new Mini Bitcoin futures that launch today. We will also talk about economic conditions.

2021-05-03 Monday Night Strategy call 5:00 EDT