Friday, 7 March 2014

Mixed week for the metals

It was a bit of a choppy week for the precious metals. Despite some gains to begin the week, there was some sig' downside on Tuesday and Friday. Gold and Silver saw net weekly changes of +1.25% and -1.30% respectively.


GLD, weekly


SLV, weekly


Summary

Suffice to say, Gold remains significantly stronger than Silver - no doubt due to it benefiting more in terms of the 'fear trade'.

The weakness in Silver is still a great concern I have, despite the strength in Gold. Similarly, Copper remains broadly weak, and if it loses the $3 threshold, then the precious metals will be in dire trouble.
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I remain resigned that Gold will still eventually have to test the big $1000 threshold, before the current multi-year decline is complete.