Friday 17 November 2017

Metals battling upward

It was a bullish week for the precious metals of Gold and Silver, with net weekly gains of +$22.30 (1.7%) to $1296.50, and +$0.50 (3.0%) to $17.37 respectively. Near term outlook offers further upside, not least if the USD stays below the DXY 95.00 threshold.

Gold weekly

Silver weekly


Suffice to add... nothing has changed.

I hold to the notion that 'Mr inflation is lurking'. Copper saw a key Aug' close >$3.00, confirmed in Oct'.

Copper, gold, silver - monthly, 10yr

The trio of metals do broadly trade together on a multi-year basis. If you believe copper will continue to claw upward into, and across much of 2018, then gold and silver should be expected to follow to some extent.

*if correct, bullish implications for the related mining stocks.