Gold, silver and platinum flying

New York (Dec 18)  Gold, silver and platinum are flying higher again this morning. Gold is $27.00 higher looking for $1,900; silver up $1.00 and platinum up $30.00. We reversed our silver position this morning and are long across the board. The rally has been strong and now that silver joins the party, look for the rally to continue.

It is interesting how the markets work: platinum broke out about a month ago, gold almost two weeks ago and now silver joins the party. This rally could be extended for a while, especially based on the Fed’s monetary policy and debt creation. The only negative for metals is the time of year, which is historically weak.

However, regular readers know that we could care less about the news items or the Fed. All we care about is price action and our algorithm, which is where my opinion is generated. We are trend traders that trade with no emotion. All of our signals come without news, opinions they are strictly based on price. For now, the price goes higher.

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