Gold and Silver have closed above key levels with Silver more convincing. Platinum is very close and could be the biggest winner of them all. The action gets more bullish everyday in the metals and there is a real chance that Gold could make a run at the highs.
The explosive moves are not happening today or tomorrow; if we are going to stay bullish, a steady up trend is more valuable than spikes higher. Unless markets are at a major turn, slow and steady wins the race. Remember the current uptrend started on a fear based short squeeze, settle and now firmly trending higher.
In my opinion the Russia/Ukraine talk is nonsense and a narrative that is incorrect. Price drives markets not news, the trend in metals is solidly higher and the trend in equities is clearly down. Commodities continue to move higher along with Crude.
Between the high inflation, much higher than the CPI read, and supply chain issues, metals should continue to run. Also recognize the Fiat currency being deteriorated and Central Banks continue their drive to create money refusing to raise rates.
Precious metals should be owned on a physical basis with capital that is not needed tomorrow or anytime soon. Trading should be done with paper knowing that we can trade either side without emotions.
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.
