Strong gains for the metals

The precious metals saw some significant gains, with Gold and Silver settling higher by 1.5% and 0.9% respectively. Near term outlook is now bullish, although with a rising USD, that will be a major downward pressure.


GLD, daily

SLV, daily

Summary

*typically, Silver will trade 1.5 to 2.0x the change in Gold. Today's ratio was effectively the opposite, and it remains a case that Gold is catching a 'fear bid'.. via the underlying geo-pol issues.
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Suffice to say, metals were a somewhat surprising aspect of the US capital markets.

Why did Gold do well today, rather than in recent days?

It is a difficult issue...and the fact that the US dollar saw further gains, makes the Gold gains... somewhat odd.
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Regardless of any near term upside...the broader trend remains weak.