Gold Market Wire
News, analysis and commentary for gold traders and investors
Silver Market Update
Silver Shredded as Commodity Complex Gets Stung
June 4, 2024 - (Gold Market Wire) - The commodity complex got shredded today and tested everybody's ability to pull the trigger to cut. These are the fun and games that await anyone trading a market that has significant gains. First up, the Silver Sell-Off:
![](https://cdn.prod.website-files.com/5d754afa7a6dfa49fd253976/665f2553c7b4bc1bcba8f86e_Screenshot%202024-06-04%20at%2016.31.35.png)
When the rally ends - you better get out. The picture now is not without concern, and catching falling knives is never a good move. Gold Next:
![](https://cdn.prod.website-files.com/5d754afa7a6dfa49fd253976/665f2616e586b3866e5bb00c_Screenshot%202024-06-04%20at%2016.24.38.png)
Our Silver Channel:
![](https://cdn.prod.website-files.com/5d754afa7a6dfa49fd253976/665f26671203cb9dbf663236_Screenshot%202024-06-04%20at%2016.21.10.png)
Part of trading is knowing when to cut...not just when to buy. We've had our first big lesson - there will be no free rides on the bull's back. Even in a bad scenario - if you entered Silver halfway through the "Stairway to Heaven" and cut late - well, you did all right. Especially in the case of Silver, you better have a quick trigger finger to get out.
Today and Yesterday, the key was to keep an eye on crude oil. That led the way. And the whole commodity complex got it in the neck... Wheat, Metals, Copper - everything.
Now to see how we follow through.