On Tuesday gold, silver, and platinum, put on impressive show. All three appeared to be under pressure early before dramatic rallies to close near their highs of the day.
Gold is once again higher pushing its way to potentially all-time new highs. The all-time closing high in gold is only $10-$15 from where its trading this morning. We remain bullish our 1780 level August futures to add held perfectly showing the strength in gold.
Silver closed at almost 4-year highs, looking ready to break out and test $20 level in September futures. The strength in silver is evident and a run looks to be imminent. We remain long and look for the continued breakout and rally in silver.
Platinum is testing major resistance and could be ready to join the party of gold and silver. We have been long gold and silver for an extended period and short platinum. A higher close on platinum today would more than likely trigger a buy signal which would reverse our short position and go long.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
Saturday Micro Mini Recording: Saturday did a great webinar on our micro mini futures portfolio models. I have attached the recording for your viewing pleasure.