Gold’s past five week’s have been nothing less than marvelous. As for Silver, the settle yesterday at 43.37 was her highest daily close since 22 August 2011 as well as her highest weekly close since that ending 25 April 2011.
Previous similar episodes were soon followed by combinations of pullbacks and sideways drifts. Those high consolidations gradually rebalanced overextended technicals and sentiment.
The market cleared the old high it made; the 18-day average keeps climbing every day. I don't expect many corrections, but since you've just come from $3400 and are now pushing $3718.
Gold was the worst performing precious metal of the past week, though still up 0.83%. China’s move to ease gold import/export rules aims to diversify reserves away from the U.S. dollar...
