The precious metals of Gold and Silver saw significant net weekly declines of -$25.90 (1.9%) to $1330.30, and -$0.23 (1.4%) to $16.48 respectively. Near term outlook offers a little chop. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.
Suffice to add, Gold continues to remain far stronger than Silver. Both metals are holding the m/t upward trend from summer 2017.
The m/t outlook would
turn decisively bullish if Gold >$1400 and Silver >$22s. Based on m/t price action in copper and WTIC, I continue to lean to the view that gold and silver will eventually catchup.
Copper, Gold, Silver, monthly'10yr
The trio of metals trade broadly together across the years, and with copper m/t bullish, both gold and silver should follow.