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The precious metals recovered on Thursday and Friday from three initial weak days to close in positive territory for the week; silver led the charge finishing up over 1%. The 200-day moving average has worked well as a “catch play” near the $1,305-$1,310 level, while silver has spent several days consolidating in an upper flag patter near $22. Next week, $1,310/$1,290 and $20.50/$21.25 are support points for gold and silver, respectively. Gold ...

All precious metals were in the green this week and moved significantly higher. Gold ended the week at $1,318.60, up 4.4%. Friday was the highest close for gold since October 31, 2013. As we noted last week, a move above $1,280 would be the key to seeing gold move to the next level. The first catalyst for the gold price this week was when the China Gold Association released estimates for China’s ...

Gold and silver finished up 2% and 4.5% respectively this week, while platinum and palladium finished slightly higher. The U.S. dollar was very soft against other currencies all week, which added assistance to moving the precious metals higher. Gold has put in four short-term tops around $1262-$1265 on an hourly chart. This has created a small ascending triangle pattern and a follow through of this pattern leads to a measured move up ...

Precious metals were hit this week from all sides as U.S. dollar strength combined with another round of tapering to force short-term investors to hit the sell key. After opening the week near the highs, the metals managed a bounce on Wednesday only to be hit hard Thursday. The oversold bounce at $1,240 was also met with forceful selling at $1,250-$1,255.

Gold futures closed the week near the unchanged level while platinum, palladium and silver finished the week negative. Gold was poised for a small breakout above the $1267 level, but was shot down on Friday after emerging market currencies fell hard causing the U.S. dollar to appreciate and gold to move lower. Additional sell pressure can be attributed to the U.S. Federal Reserve meeting next week where there is a strong potential ...

Precious metals remained range bound this week with few disturbances from economic headlines. Platinum led the precious metals higher finishing the week up 1.3%; gold was the weakest performer yet finished slightly positive up 0.4%. Year to date performance has been on par with our January Market Intelligence – the combination precious and industrial metals (platinum, palladium, silver), as we like to call them, have been the outperformers and we expect to see ...