Metals continue to show some strength and may start to rise. After a few false starts, gold, silver and platinum are once again gaining momentum. They are all at key levels of resistance. Gold must cross $ 1,715 in June futures, silver $ 16 in May futures and platinum $ 750 in July futures.
As the Fed continues to struggle with monetary policy, the case for metals is gaining strength. Combine that with the patterns and the metals might be out of the race. The only issues are the volume, which is low, and the general market conditions.
There is no reason to believe that the metal rally will not last long. We stay a long time but understand that the price action can change and that we could reverse. Trends last until they are not, and for now the trend in metals is higher.
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