Friday 20 October 2017

Back on the slide

It was a bearish week for the precious metals of Gold and Silver, with net weekly declines of -$24.10 (1.8%) to $1280.50, and -$0.33 (1.9%) to $17.08 respectively. Near term outlook offers renewed upside, not least if the USD resumes lower, or on geo-political upset.

Gold weekly

Silver weekly


Suffice to add, broader price action is very choppy. Gold is far stronger than Silver, although Copper is stronger than Gold.

Indirectly, the ongoing upward trend in copper from late 2016 bodes that Gold and Silver will eventually catch up, as the trio trade broadly together across the years...

Gold, Silver, Copper, monthly, 10yr

... and if the metals rally into 2018, its bodes extremely bullish for the related miners.