Whilst the broader capital markets gained in confidence, the precious metals continued to build gains. Gold and Silver climbed for a sixth week, with net weekly gains of 1.6% and 2.5% respectively. Near term outlook threatens some cooling, as equities look set to break up and away.
GLD, weekly
SLV, weekly
Summary
Little to add.
Yet another week of gains for gold and silver. This was despite growing confidence in the market that 'everything will be fine into early 2017.. as rates will not likely be raised until at least the Dec' FOMC'.
