Gold And Silver – Market Says Wait. Market Carries Weight.

by alexoscarew | November 19, 2012 at 11:19 am

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There is a reason why it has not been easy to trade gold or silver, of late. One area where information is least reliable is in the middle of a trading range. That is precisely where the price of gold is currently, on the larger monthly time frame. However, while waiting idly until clarity re-enters the picture, we can do some stage-setting in preparation for what is to come, in either direction.

Gathering facts is the best way to avoid guessing what to do. We are of the mind that it is best to follow the market’s lead, rather than lead the market in the hopes that it will see the [often questionable] wisdom of divining the future. Most people prefer a “story” that seems to make sense in order to draw an easier conclusion on what to do. Letter writers work that way, markets do not. Consequently, we adhere strictly to the message of the market, for it is never wrong, it just is.