December Gold prints 2000 overnight. We now are targeting $2250 December gold futures. By Todd Horwitz, Bubba Trading

 

December Gold prints 2000 overnight

It finally happened; gold made new all-time highs. During the overnight trade December gold futures traded $2000 an ounce. The big question is what will happen from here. The overnight action was extremely volatile and as of this writing gold about flat.

All signs point to the rally continuing, although a pullback would be no surprise. As we have written every day the pattern is bullish gold should make new highs, nothing has changed. Until the pattern shifts direction, we are buyers support expecting gold to continue to rally. We now are targeting $2250 December gold futures.

Silver has been a monster as well, reaching our first target of $25 per ounce September futures. The overnight high was $26.27, our new target silver is $30 an ounce September future. Like gold the overnight high silver has brought sellers which is extremely healthy for the market. In up trending markets pullbacks to support our opportunities to buy.

Platinum has also joined the party and traded over $1000 October futures in the overnight session. We expect the metals rally continue across the board. With the Federal Reserve meeting on Wednesday we are expecting an announcement will be more favorable the metals which will probably cause a pullback and buying opportunity.

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The Technomental Commodity Report comes out on Wednesday evenings and provides comprehensive fundamental and technical coverage of most commodities that trade on the futures markets in the US and UK, as well as stocks, bonds, and digital currencies.

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