Friday, 2 February 2018

A cooling week

The precious metals of Gold and Silver saw a week of cooling, with net weekly declines of -$14.80 (1.1%) to $1337.30, and -$0.73 (4.2%) to $16.71 respectively. Near term outlook is choppy. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.

Gold weekly

Silver weekly


Suffice to add, an arguably 'sporadic' week of cooling, with the metals somewhat pressured as the USD is trying to bounce from last week's low in the DXY 88.20s.

Broadly... price action has been choppy since early 2017. Things turn decisive if Gold >$1400 and Silver $22s.