Matt Zeman is a market strategist with Kingsview Asset Management a Registered Investment Advisor. Matt is also a licensed futures broker and a member of the Chicago Board of Trade. He began his trading career as a runner in the grain pits at the Chicago Board of Trade before becoming an arbitrage clerk. Eventually he started trading equity options and stocks before moving on to futures. He has been a frequent guest on CNBC, Fox and Bloomberg, and provides his views on the stock, bond and futures markets for financial media including Dow Jones, the L.A. Times and The Associated Press. Matt is a member of the Chicago Board of Trade, and carries series 3, 7 and 66 licenses.
Now is a great time to diversify with managed futures, which have little correlation to the movements of stocks or bonds. But they are not for everyone.
The rally in the dollar index is taking its toll on the yellow metal.
The price action in gold and silver following the recent plunge has been constructive; however, there is a lot of work left for the bulls.
Trading should not be based on trying to predict the future but on taking advantage of what price is doing.
Today's action is all about demand, with dealers reporting inventory shortages.
Should commodity prices continue to slide and the dollar stay on the strong side, gold may have a tough road ahead to heal itself.
Until we see a selling climax, additional downside for gold prices is likely.
Prices for the yellow metal keep falling, yet the bullish fundamentals remain.
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