Monday, 17 March 2014

Metals cooling down

With a quiet weekend in the Crimea, US markets were in a calm mood, and that saw the precious metals cool down from their recent gains. Gold and Silver saw net daily declines of -1.0% and -1.4% respectively. Near term outlook is mixed, but with a very bullish 'Golden Cross' due for Gold.


GLD, daily


SLV, daily


Summary

*Silver remains noticeably laggy, and is still below the Oct' high.
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It would seem that whilst there is increased geo-political tension, the precious metals will continue to claw higher this spring.

This will be especially impressive considering the current weakness in Copper prices, now holding under the important $3 threshold.