Gold Struggles Continue
Editor's Note: Gold and silver has been, at best, a frustrating trade. Exclusive to Kitco News, expert trader, Todd "Bubba" Horwitz, chief market strategist and founder of 'Bubba Trading provides a strategy investors can use in a range-bound gold price environment. Sign up before March 10 for the Kitco News Weekly Rundown newsletter to receive Horwitz's exclusive report and trading strategy.
After last Thursday's reversalfrom $1,300, gold continues to struggle in lackluster trade. This morning it'sshowing signs of life, pushing up to the $1,330 level. The overall pattern islethargic as gold hovers near the bottom of the recent range. The patternsuggests that the lows are not in yet, and there is more work to do on thedownside.
There are many factors that areaffecting gold here but none more than the U.S. dollar, which is poised to takeoff to the upside. All this Fed and central-bank manipulation is creating a tonof heartburn for gold traders as they sit on the edge of their seats waitingfor the next shoe to drop.
With the jobs number comingFriday, this promises to be an interesting week for gold and we should get adecision on the next big move by Friday. With gold in a trading range, it couldgo either way, but our expectations are a run to the bottoms, where we will bewaiting to buy.
Keep those stops tight.
Contributing tokitco.com
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Bubba@bubbatrading.com www.bubbatrading.com/ Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.