Gold weekly
Silver weekly
Summary
First, its notable that Gold is still considerably stronger than Silver.
It has been an interesting thing to see last week's declines fully negated, with both Gold and Silver swinging powerfully upward.
A rather bullish indirect signal is via the industrial metal of copper, which is just below the very important $3.00 threshold. Any monthly close (whether August.. or beyond) >$3.00 for copper, would bode bullish for Gold and Silver. The trio generally trade together on a multi-year basis, and if copper continues to rise, its almost impossible not to see Gold and Silver follow.
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*As ever, there are implications for the related mining stocks. The mining bulls really need to see Gold >$1300, Silver >$19, and Copper >$3.00.
A hyper bullish mining outlook... requires Gold >$1400, Silver >$22, and Copper >$3.00.
