Gold and Silver remain weak on pathetic volume and lack of interest. Since Gold and Silver are popular assets, we will assume the weakness is due to underlying pressure and not a lack of interest. This appears to be a resting spot for Gold and Silver before they head lower once again.

The trend is lower, all rallies have been met with sellers or lack of buying interest. This can only indicate that the sellers are the strong hands for now and the downtrend will continue. Remember trends last until they don’t and Gold and Silver will once again find buyers, when the price is right.

All markets and trends are built on the same premise, they go up and down, trend, consolidate and price discovery. Many believe true price discovery is gone, they would be wrong. Asset prices are always determined when a buyer and seller meet and exchange wealth.

We all know that asset prices may be inflated by the ridiculous policies of the FED. There are those that believe there is manipulation involved, which is possible. The common thread no matter the circumstances must be price discovery, the reasons are immaterial because there must be an exchange to determine price.

Todd Horwitz Chief Strategist
Stop being a prophet and make profits

Here is Saturday’s Recording of our Futures part time day trading webinar

Recording: Futures Part Time Day Trading