Friday, 16 March 2018

Weak metals

The precious metals of Gold and Silver were broadly weak, with net weekly declines of -$11.70 (0.9%) to $1312.30, and -$0.34 (2.0%) to $16.27 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 notably more resilient that Silver. Both metals are broadly choppy.

Silver is testing core rising trend from summer 2017. Another sig' weekly decline would bode bearish, but my guess is that a rebound in the metals is due, as the fed are set to raise rates.