Friday's action was negative for both gold and silver. The US$ Index put in an outside reversal day to the upside while silver put in an outside reversal day to the downside. Have we topped in gold and silver?
Gold is a crowded trade, too many are bullish. Silver acting very well considering the sell-off on Friday. The Dollar got too low last week, time for a bounce.
For Silver, her year-to-date low was just back on 10 March at 19.95 and today at 25.47 she’s +28% higher: that’s in just 25 trading days! Brava Sister Silver!
A monthly chart view of the gold price projects a break to blue sky, but needs to confirm a breakout first (and endure the noise of an ‘in the bag’ banking sector)
