Gold’s summer, one of its most volatile in decades, has included a 10% rise, high prices not seen in decades, and multiple short-term outliers in both directions. And while the dog days are over, gold’s activity has not ceased and there’s no telling whether the commodity will make new highs or retreat as gold bounces around a relatively confined range.
Don’t Sleep on Silver
When it comes to summer movement, silver’s been no slouch either. In fact, gold’s fellow metal has witnessed even greater volatility among these high prices. Traders can go to Small Precious Metals futures (SPRE) for a combination of the two that misses neither the all-time highs in gold nor the increased action in silver.
Next Move in Precious Metals
Instead of trading on a guess as to where gold and silver are headed in the long term, some traders have found recent success in merely taking the other side of short-term metals moves exceeding 2% (about 1.50 or $150 in SPRE futures). With prices of 2,000 and 1,800 looking equally probable in gold, it might make more sense to trade both sides with smaller futures.
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