With the US capital market getting a little upset midweek, the precious metals caught an outright fear bid. Gold and Silver saw net weekly gains of 2.2% and 2.4% respectively. Gold remains notably stronger than the more industrial Silver.
Further weakness in the USD (DXY 97s) certainly helped give the precious metals an extra kick higher this week.
Even though the capital market saw a recovery in mood/sentiment across Thurs/Friday, the metals still held most of the gains.
Most notable is that Silver is back above core rising trend/support. A few closes above the key 10MA (currently in the mid $16s) would give some confidence that last week's break was a fake out to the deflationists.