Gold and Silver are on an amazing run along with platinum now joining the fray due to its recent runs higher. It is something more like spectacular, however, remember that everything comes to an end. We are not predicting it’s over. However, reminding you of that simple fact.
Gold is almost 15% higher than three weeks ago, which is unreal on its own. In that same time-frame, silver is rallied almost 60% and platinum 20%. The price action remains bullish. We have stayed long throughout, and will not reverse anytime soon, but are aware of how markets work.
Today is the jobs number, the expectations may have contributed this recent rally. Other factors are the Federal Reserve and their clueless policy, the weakening of currencies as interest rates worldwide are destroying the ability for asset classes to price themselves.
Price action remains bullish but as in all markets, never announce intentions of when you switch. News items can be bullish one day and bearish the next. It all depends on interpretation from markets at any given point.
We remain bullish with no intentions reversing. However, at this point we would not be adding. We are expecting a pullback and wait to see price check when that happens. In the meantime, we will ride gold, silver, and platinum, as long as prices dictate the bull market.
Todd Horwitz Chief Strategist BubbaTrading.com
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