Friday 26 January 2018

Back on the rise

The precious metals of Gold and Silver are back on the rise, with net weekly gains of $19.00 (1.4%) to $1352.10, and $0.41 (2.4%) to $17.44 respectively. Near term outlook is bullish. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.

Gold weekly

Silver weekly


Suffice to add, the weaker USD - seeing the DXY 88.20s this week, has helped give the precious metals (and most other commodities) an extra kick upward.

For now, gold is still broadly choppy from early 2017, with silver still lagging. Copper and oil are indirectly supportive of the notion that gold and silver will eventually catch up across 2018.

The cautious will wait to chase, until Gold >$1400s, and Silver >$22s. Same applies to the related mining stocks.