Tuesday 27 August 2013

Metals rising on classic war fears

With equities significantly lower, the metals (along with Oil) rose on traditional war fears. Gold and Silver closed with reasonable gains of 1.0% and 0.5% respectively. Broad trend remains to the upside, despite a USD that looks to have floored.


GLD, daily


SLV, daily


Summary

Little to add, aside that the metals look set for a few more weeks higher..before the bigger trend resumes to the downside.