Friday, 22 December 2017

A second weekly gain

The precious metals of Gold and Silver climbed for a second week, with net weekly gains of $21.30 (1.7%) to $1278.80, and $0.38 (2.4%) to $16.44 respectively. Near term outlook is leaning bullish into year end.

Gold weekly

Silver weekly


So, a second consecutive net weekly gain, but broadly, its been a year of chop for Gold and Silver. For bullish clarity, the gold bugs need to see Gold >$1400 and Silver >$22.00.

Again, I would keep in mind copper, which saw a net weekly gain of 3.3%. Further, across the years, gold, silver, and copper do broadly trade together...

I am seeking Copper $4s for 2018. By definition, that does sway me to eventually seeing Gold and Silver follow.