Metals start the week strong

With the US and World markets having geo-political concerns between Russia and Ukraine, the precious metals caught a strong bid in terms of the 'fear trade'. Gold and Silver saw net daily gains of 2.0% and 1.3% respectively.


GLD, daily

SLV, daily

Summary

Interesting gains to start the week, and we're back to the levels seen last October.

Gold is again benefiting more than Silver...purely on the basis of the anti-currency 'fear trade'. Otherwise, the old 1.5/2.0x ratio would have seen Silver +3/4%.
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For those bullish the metals, the big target now should be a weekly close above the October peak.