Live Spot Gold
SPOT MARKET IS OPEN
closes in 5 hrs. 8 mins.
Oct 18, 2021 11:52 NY Time
Bid/Ask 1768.10 / 1769.10
Low/High 1760.00 / 1772.40
Change +0.70 +0.04%
30daychg +14.30 +0.82%
1yearchg -131.60 -6.93%
Alerts Charts
Silver Price & PGMs
Oct 18, 2021 11:52 NY Time
Kitco 10AM Silver Fix
Silver 23.22 -0.08
Platinum 1030.00 -19.00
Palladium 1960.00 -52.00
Rhodium 12900.00 -250.00
NOTE : Hello Mon. 401 G.C. customers! Most customers of the precious metals market don’t get a daily trader’s frame of mind and 401 G.C. has this to offer for our Mon. readers, pay close attention to the comments at the end as they hold true for most owners of the precious metals :
Jack Dempsey, President
401 Gold Consultants LLC
(Mon. Oct. 18th, 2021) – FROM KITCO’s BUBBA HOROWITZ TRADERTALK : Gold and silver reversed trends last week but were under heavy pressure on Friday. One of the biggest faults with traders and investors is that they get too emotional when markets go against them. The keys to remember are in an uptrend; you want to buy at support levels, in a downtrend sell resistance.
Emotions, news, and opinions have no place in markets. The old saying is that the trend is your friend, which works if you are patient. Of course, when it comes to money, patience is hard to find. Often, trend traders will get chopped up a little in consolidating markets, but you must follow the rules.
Looking at gold and silver, we see support levels based on December futures at 1760 gold and 23.00 Silver. We would consider these solid support levels that should hold and create a rally. There are no guarantees, but markets will always eventually trend.
In all markets, price action determines what will happen in the next day, week, or month. Keep the two strategies separate. The worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com