Friday 11 July 2014

Six weeks to the upside

It was a sixth consecutive week of gains for the precious metals. Gold and Silver saw net weekly gains of a rather significant 1.3% and 1.4% respectively. Near term outlook remains bullish, and the big $1500 threshold for Gold looks viable later this year.


GLD, weekly


SLV, weekly


Summary

Suffice to say... another rather useful gain for the gold bugs this week.

The big $1500 threshold looks viable for spot gold prices, which should equate to $26/27 for Silver.