GLD, daily
SLV, daily
Summary
Suffice to say, the fact the metals held up against the dollar - its second consecutive daily rise, was really impressive.
WTIC Oil - which is similarly highly susceptible to dollar strength, declined by around 2%. In many respects, on a 'normal' day, Gold would have lost around $30 today, with Silver slipping $1.50.
Are underlying currency concerns still keeping the two main precious metals from falling any lower?
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With FOMC next Wednesday - where 45bn of T-bill buying (starting in January) will be confirmed, a further price boost to a broad range of assets seems likely in the latter half of next week.
