Gold Chart of The Week

Each Week will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (April 15th through April 19th)

 It has been a few years since the Precious Metals have seen a Friday selloff followed by an even bigger Sunday night drop, but anyone that has been trading since 2008 remembers prior price action like this. And when any sector of the market experiences drops like these, everyone will be racing to the television and internet hoping to find someone bold enough to confidently call “THE LOW”. As far as this article and this drop are concerned, I think it is way too early to begin spouting target prices for a low. With all of the expected margin calls and positioning that will follow, I feel the best thing to do is be patient and let things in the Metals settle down before stepping in for a long term play. There should be many intraday trades available thanks to the expected volatility, but the long term play will be too difficult to depend on this early in the week. Continue reading "Gold Chart of The Week"