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)
Masses from every nation are increasing their long term investment in gold. Indians and Asians have already started increasing their long term physical gold investment.
