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Christopher Lewis
Gold, Silver, Platinum, Palladium

Gold markets have gone back and forth during the trading session on Wednesday, as we continue to hang around the $1750 level, an area that has caused a lot of issues in the past. Ultimately, this is a market that I think will continue to see a lot of noise due to the fact that gold is considered to be a safety currency, but at the same time central banks around the world are doing everything they can to kill their own currency.

Gold Price Predictions Video 21.05.20

It is a “push pull” argument on a daily basis as to whether or not it is going to be a market that is focusing on risk appetite, or if it is focusing on central bank printing. It is a daily noisy market that is very volatile due to the headline risks out there, so I think that it makes quite a bit of sense that the market will simply go back and forth in this general vicinity. I do think that given enough time buyers will come back into market because we are in an uptrend, but we are definitely at the top of the overall range that we have been in. I think $1700 is an area where a lot of interest come back in, especially due to the 50 day EMA sitting just below. Ultimately, I like buying gold in have no interest in trying to short it, so I am looking at pullbacks as a potential value proposition that we can take advantage of. Shorting gold is all but impossible in the current economic environment, and therefore it is a “one-way trade” as far as I can see.

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