Friday 11 May 2018

Weekly gains

The precious metals of Gold and Silver saw net weekly gains, +$6.00 (0.5%) to $1320.70, and +$0.23 (1.4%) to $16.75 respectively. Near term outlook offers further upside. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.

Gold weekly

Silver weekly


Gold remains broadly stronger than Silver, but both metals are m/t choppy since early 2017, especially relative to the broader commodity complex.

Partly based on m/t bullish trends in copper and oil, I'm still leaning toward an eventual bullish breakout in Gold. For now, there is ZERO sign of that.