Why Scott Redler Is In Silver, Not Gold

Scott Redler is not that heavily involved in gold, but he does still hold some silver.

"Gonna hold that to see if it stays above $14.40 for some continuation," he told Benzinga.

He recently joined Benzinga’s #PreMarket Prep to talk about why he hasn’t been doing much with gold lately.

Redler said he has been talking about gold since 2008, but technical trading isn’t what it used to be.

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“You have to know a little about a lot and a lot about the charts,” he said.

Recently, Redler explained that there hasn’t been a thesis for gold. He said that commodity traders have to watch the dollar.

“The dollar has been strong for the past multiple months. That’s why gold also has been weak,” he said.

Redler also said that a year and a half ago, people looked at gold as the end of the world trade.

Wow / thank goodness u had a small window to exit metals. https://t.co/ZAURfpFGkh. $gld $slv

— Scott Redler (@RedDogT3) November 19, 2014

“But then I think people decided they’d rather have a case of Sam Adams and a pizza versus gold just in case the end of the world happens,” he said.

Check out his full interview here:

Don’t forget to tune in to Benzinga’s #PreMarket Prep broadcast Monday-Friday 8-9:45 a.m. ET for a live, interactive morning show with veteran traders and featured finance industry experts ready to answer your questions for the trading day.