Precious metals: where is it running?

Hi Friends,

As we all had seen the fall in precious metals some weeks back; it should not have been shocking to us. From the start of this blog we are discussing reasons as why outlook on the precious metals is bearish. Not only technically but fundamentally as well as mentally too.

As of this week’s start I have a strong feeling towards why precious metals will close negative for the week. I feel this because of many technical factors and also based on the conditions I see in the current market.

In all trade safe and intelligently.

 

Regards,

TD

PS: Friends, I may not be updating the blog every day; due to lack of time, but I try to be connected to twitter @wizajitmc most of the time. For any queries feel free to contact me : https://wizajitmc.wordpress.com/about/

 

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6 thoughts on “Precious metals: where is it running?

    • Hi Pierfranco,

      Nice to note your views on the Gold. By precious metals, I meant basically Gold and Silver. About my views, I only write when I feel to write something. I present my analysis only when I feel something about it. So I wish you good luck on your trade long. But, just in case you don’t know much about my trades, I have been much short this market rather long πŸ˜‰

      TD

      PS: Strange to my regular ways, some weeks back I was long these markets too πŸ˜€

      • Going short is a pretty good idea sometimes, if you have the right timing it can give you great returns in short term…But in a long term I prefer a long position, gold will becme more expensive compare to currencies in the long run…

      • Well, I never believe in long term with commodities. And in regard to see prices to the upside; even if it does we just need to know if the “value” has risen or not?

        And trust me gold and silver would always look expensive; if not for you or anyone else, it surely does to the common folks in my country πŸ˜‰

        -TD

      • I know what do you mean, but to have the idea of long term on precious metals just have a look at the price of gold over the last years. It has almost overperformed equities. The “value” hasnt risen, but the “price” yes indeed. And with “price” it means the “value” expressed in money, i.e. depreciation of currencis versus precious metals (read it “inflation”)….

      • Pierfranco,
        Sorry for my delayed response. Actually it(price of metals) varies from each country. Here in India I haven’t noticed much variations with COMEX prices. They are more or the same when Gold was trading $1700s and $1300s.

        But, my point was speculations will reduce over time, or even if it would exist I do not think people will ride trades long term.

        Nevertheless, every trader has unique mindset and strategy developed over the years of experience. I wish you all success my “long term trading” friend.

        -TD

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