A fourth week higher

The precious metals of Gold and Silver climbed for a fourth consecutive week, with net weekly gains of $13.00 (1.0%) to $1322.30, and $0.14 (0.8%) to $17.28 respectively. Near term outlook is bullish. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.


Gold weekly

Silver weekly

Summary

Suffice to add, a fourth week higher for the precious metals. Note how the MACD (blue bar histogram) cycles have seen a bullish cross, as price momentum is now outright bullish (at least in the short term). More broadly though, price action is still choppy.

The metal bulls should be seeking a decisive push for gold >$1400, Silver >$22, and Copper >$3.00. The latter has been seen of course.

Copper, gold, silver, monthly, 10yr

The trio do broadly trade together across the years. Copper is unquestionably m/t bullish, and indirectly suggest that gold and silver will (eventually) catch up.