Lower highs and lower lows

The precious metals of Gold and Silver caught a bounce, with net weekly gains of $9.10 (0.7%) to $1257.50, and $0.24 (1.5%) to $16.06 respectively. With a recent series of lower highs and lower lows, near term outlook offers little more than chop into year end.


Gold weekly

Silver weekly

Summary

So, a net weekly gain for Gold and Silver, but seen in perspective, the metals have been broadly struggling since September.. which was a failure to clear major resistance.

With just 9 trading days left of the year, there is little reason to expect much change. Gold is set for a sig' net yearly gain, but its possible Silver might settle net lower.

M/t outlook is 'mixed'. The one indirect bullish signal is copper, which after a brief break lower, looks set for another monthly close above the key $3.00 threshold.

Copper, gold, silver, monthly, 10yr

What should be clear, across the years, the trio do broadly trade together.