With the main equity indexes rallying 2% today, the precious metals saw some significant gains. However, both Gold and Silver still remain noticeably below their Sept/Oct highs.
The daily charts could possibly be displaying an ABC wave'2 bounce formation. Indeed, the price action from last week is now arguably to be seen as a wave B mini bull flag - as confirmed with today's gap higher.
Weekly and monthly charts remain somewhat mixed. We're still a long way below the 2011 precious metal highs, not least Silver.