Metals rally on war-talk

The US markets were rattled early Monday on more war-talk, and this gave the metals an extra 'fear trade' boost. Gold and Silver closed with net gains of 1.3% and 3.5% respectively. Near term trend remains clearly bullish.


GLD, daily

SLV, daily

Summary

Suffice to say, the Syria situation - which does look likely to end in actual military action, is likely to be a further positive factor for the metals across this month.

There remains an obvious giant gap-fill zone - from the April snap/collapse wave.

A monthly close above the April snap - GLD 150, and SLV 26.50, would be very bullish for the mid-term.