Given the tight correlation between the two metals, Bloomberg analysts caution that silver’s gains are likely to fade unless gold resumes a sustained move higher.
Gold was crawling back towards the all-time highs at $4,381, but then failed, and Thursday/Friday saw a sell-off. Still, gold managed to gain 2.0% on the week.
Selloffs offer scarce mid-bull opportunities to deploy capital at more-favorable prices, supporting bigger future gains. The gold miners’ latest epic fundamentals continue to argue for much-higher stock levels.
Gold and silver had another big day (their second of this week) on Wednesday, amidst the latest stunning financial revelations out of the Trump administration.
Ira Epstein discusses the current state of the metals market on Veterans Day, highlighting the bullish trends in gold and silver, with gold up 3.4% for the week.