The action in gold and silver has slowed to none; it appears that these markets don’t trade anymore. Volume and volatility in the metals have gone to zero. Gold and silver are hovering around key levels while hardly trading at all.
The bigger question: What does this type of trading action mean? The answer is actually simple -- gold and silver are preparing for a much bigger move; the only decision is which way. A case can be made for up and down, which is why the action we are witnessing is that of total confusion.
When markets get into these tight consolidation patterns, that is an indication is something big is coming -- as we witnessed yesterday in equities, with the narrowest range in two years. We will continue to stay short, which is still the trend until proven otherwise. Please remember, if you are just an investor, stay the course because you are in the trade for the long haul. Traders should be short until further notice.
2019-12-19 12:58:00Z
https://www.kitco.com/commentaries/2019-12-19/Are-the-gold-silver-markets-closed.html
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