The precious metals of Gold and Silver saw significant net weekly
declines of -$25.90 (1.9%) to $1330.30, and -$0.23 (1.4%) to
$16.48 respectively. Near term outlook offers a little chop. The m/t outlook would
turn decisively bullish if Gold >$1400 and Silver >$22s.
Gold weekly
Silver weekly
Summary
Suffice to add, Gold continues to remain far stronger than Silver. Both metals are holding the m/t upward trend from summer 2017.
The m/t outlook would
turn decisively bullish if Gold >$1400 and Silver >$22s. Based on m/t price action in copper and WTIC, I continue to lean to the view that gold and silver will eventually catchup.
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Copper, Gold, Silver, monthly'10yr
The trio of metals trade broadly together across the years, and with copper m/t bullish, both gold and silver should follow.