Focus Long-Term, Don’t Wait for Possible Lower Lows Ahead - David Brady,CFA (08/11/2018)

Nov 08 16:11 2018 Print This Article

8 Nov, 2018

It is difficult to provide an update on something that

hasn’t moved in months. Other than a spike higher on October 11, Gold has

basically done nothing in the past three months. The current range remains

1214-1251. Many investors in the precious metals space have become extremely

bullish recently, given the rally from 1167. But there is little reason for it,

in my opinion. Nothing that drove the decline from 1369 has changed. So rather

than focus on daily moves within the current range, let’s focus on the factors

that could break us out of this range.

U.S.-China Trade War

With the midterm elections out of the way, the risk is that

the softer tone adopted prior to Tuesday is forgotten, and the situation

escalates again. We got our first clue yesterday, when the following headline


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About Article Author

Sprott Money

Established in February 2008, Sprott Money Ltd. is a leading precious metals wholesale, institutional and retail dealer selling gold, silver and platinum bars, coins and wafers online and over the phone. Sprott Money's storage program gives clients the ability to store their precious metals in multiple storage facilities located in Canada, the United States and internationally. Sprott Money Blog, which covers world events, geopolitics and of course precious metals.

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