Gold looks headed for day three lower, but the selling is on no volume. We are long and have little concern with the current trade because the selling volume is miniscule. Typically, volume is heavy on sell off which is not the case here.
Silver continues to go lower with no force. The trade in Silver looks like an option going through time decay. The trend remains lower and the slow, dull trade should continue. We expect this action to continue through the month.
Platinum is fighting to hold 1050 which is a huge level. The downtrend is in place but like Gold and Silver there is little interest in Platinum. This is a function of all markets.
Europe is basically closed; U.S. traders are on vacation, which is consistent with the month of August. The real issue in August can be moves that are sharp, fast, and force bad decisions. Sometimes it’s just better to observe.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way. Guessing the next move is a fool’s game.