Gold is Like a Nightmare
As we look at Gold right now it’s like a nightmare, it keeps getting worse and worse. Silver looks bad as well but not yet in the same category as Gold, or is it?
If we just look at the numbers, Silver is worse than Gold. Silver is down over 2% today while Gold is down less than 2%. Of course, 27.00 feels a lot bigger than .58. Remember, like for like, it is the % of movement.
Quite frankly, we have been short both Gold and Silver with no reason to reverse. Someday, whether sooner or later, they will change direction. However, those that try to guess when that change is coming are playing a fool’s game.
The most important part of trading and investing is the discipline and patience to follow the patterns. Investing is holding a position for an extended period without being driven by fear or emotion. Trading is the same except for time in a trade. Patience, discipline, and emotions rule the day.