Gold running, Silver ready and Platinum lower – By Todd Horwitz, Bubba Trading

 

Gold running, Silver ready and Platinum lower


The rally in gold and silver roll-on gold preferring to break out over 1800. It was just a week ago bold appeared to be in control however found support and is now rallied over 3% in the past for trading days. Gold looks ready to take out the 1800 level. There is now a real possibility that gold could make new all-time highs.

Silver is made the same move as gold moving up 3% in the past week. Gold has broken out to the upside while silver looks like it’s breaking up now. If this rally can continue our target for September silver is just over $19 and then higher. Based on our position in the current action there is no reason not to expect this to happen.

Platinum remains weak and is lower this morning once again failing at the 875 level. The trend lower and we expect October platinum to break below $800. Platinum is going opposite of gold and silver.

Overall, we are long gold and silver in short platinum. For gold, the next big level is 1800 August futures, $18.60 September silver. Platinum is in between ranges which are 875 resistance 820 support October futures. We expect the current trend in all models continue.

**Saturday June 27th at Noon EDT Micro Mini Portfolio Management Webinar: I will be hosting a webinar on our Mini Micro Futures Portfolio Management. This program has been a huge success, you are invited to join the presentation at Saturday June 27th at Noon EDT. This is a can’t miss event and is free to attend.

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Financial Markets and Political Commentary
 

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About the author

Todd Horwitz - Author of “Average Joe Options“. Todd began his trading career in 1980 at the CBOE. He was one of the original traders in the OEX & helped start the SPX. He is a member the CME where he trades S&P futures as well as foreign currencies & is a regular contributor to CNBC, Bloomberg, BNN, Fox & many other major news networks.