Gold, monthly
Silver, monthly
Summary
Suffice to add, it was a pretty mixed month for the precious metals. Gold saw a high of $1297.40, with Silver maxing out at $18.66. There sure was some distinct cooling in the second half of the month, arguably largely due to the renewed confidence in the US capital market.
Underlying price pressure remains net positive for both metals, and on balance, I'm looking for another major push higher across the summer.
The obvious first big targets are the summer 2016 highs of Gold $1377 and Silver $21s.
Any weekly/monthly close for Gold >$1400 and Silver in the $22s, would be exceptionally bullish, and offer a grander run to challenge the 2011 historic highs.
It really is a case of whether you believe in the inflationary scenario, or a renewed deflationary wave with a recession before end 2017.
Yours truly is leaning on the former.
