Metals rebounding as USD cools

It was a rather bullish week for the precious metals of Gold and Silver, with net weekly gains of 2.1% and 3.6% respectively. Both metals are close to breaking recent multi-year highs, although this week's strength was unquestionably partly due to the cooling US dollar.


GLD, weekly

SLV, weekly

Summary

Suffice to add... two weeks of cooling were almost fully negated this week, as the metals strongly rebounded.

As ever, a key price determinant is the strength.. or weakness of the US dollar.

The DXY 100 threshold is key, so long as that is not breached, the metals will have opportunity to rise, along with the US equity market.