Friday, 9 March 2018

Choppy metals

The precious metals of Gold and Silver saw a week of chop, with net weekly gains of +$0.60 (0.1%) to $1324.00, and +$0.14 (0.9%) to $16.61 respectively. Near term outlook offers further chop. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.

Gold weekly

Silver weekly


Suffice to add, Gold remains broadly stronger than Silver.

Both metals have been broadly choppy since early 2017.

Partly based on m/t bullish trends in copper and oil, I'm leaning to eventual bullish upward breaks in gold, with silver following. If correct, bullish implications for the related mining stocks.