After Monday’s trade, Gold and Silver traders had a lot to be excited about. There was a big rally taking both to new recent highs, heavy volume and what looked like a real rally. What we ended up with was disappointment.
Tuesday we were back in the doldrums and under pressure giving back about half of Monday’s gains leaving Gold and Silver investor’s feeling disappointed and what would happen next. Should we be worried?
Today Gold and Silver continue to vacillate near the unchanged level moving on both sides of unchanged. This type of action is what always drives trader’s nuts and usually creates bad decision making due to impatience.
If we evaluate the big picture, Gold and Silver are in up trends signaling they should move higher. We know there is never a guarantee as to what will happen next but we also know that we can’t force the market to move at the speed we want. Until something changes we are long and will buy the dips.