Friday 23 September 2016

Gold holds support as rates held

With the Fed again refraining from raising rates, the precious metals rebounded, with Gold and Silver seeing net weekly gains of 2.0% and % respectively. Gold has importantly held rising trend, and the mid term outlook remains bullish.


GLD, weekly



SLV, weekly



Summary

Suffice to add...

Rates held. USD cools a little. Metals naturally inclined to rebound.

Cyclically, both Gold and Silver are on the low end of the cycle, and have viable upside into early 2017.