Gold lower, silver and platinum prices higher

New York (Aug 31)  After a wild week, metals are headed in opposite directions this morning. Our positions have not changed even with the crazy action, leaving us short, gold and silver, long platinum. As you know, we do not predict market action; our proprietary algorithm gives us the levels without emotion or news that often convinces many to either buy or sell.

Looking at the metals' price levels, gold is looking to break the upside and reverse potentially; however, 1982- 2000 seems to be a lot of headwinds, which should bring gold back down to 1920 – 1900. These levels are based on December futures. The silver pattern is almost identical to gold, with the exception of course of exact price December silver appears you have headwinds 28 -29 and support 25 - 26. Platinum, although having some struggles, shows solid support at 920, based on October futures.

Reminder to all of you that investing, and trading are two different ways of trading markets. Long-term investors should never get concerned with price action is to short term; they should really be focused on building a long-term portfolio holding their positions and never selling. On the other hand, traders are much more active and will trade both sides of any market because their trades last days, weeks, or months and if they are wrong, they will reverse to the other side. Never confuse the two.

Ultimate Hedging of your Portfolio: Saturday August 5th at Noon EDT, you will see how to save yourself and portfolio by protecting using our model. The webinar is free with no obligations.

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