Ira Epstein discusses the current state of the metal markets, highlighting declines in gold, silver, and copper, and the recent volatility in copper prices.
Gold still finished the week higher, reclaiming the $5,000 level as cooler U.S. inflation data lifted expectations for Federal Reserve rate cuts and pressured Treasury yields lower.
We’re seeing a rebound in the precious metals, as the gold price is once again back over the $5,000 per ounce mark, while the silver futures are up $2.21 to $77.89.
Gold has good support down to $4,500 but $4,300 can’t be ruled out. We’d like to see that hold. We don’t want to see gold break under $3,800 as that would suggest that the bull is over.
What the heck just crashed silver? Gold plummeted 10.3% that day fueled by heavy selling overnight in China! Gold had also entered a popular speculative mania in mid-January, mostly driven by...
