Ira Epstein discusses the performance of the metal markets, highlighting that gold held steady at the $4,000 level and silver remained stable under $50, despite a broader market downturn.
Silver came within a whisker of making news highs, which is hardly surprising, as it has catching up to do relative to gold and is poised to embark on a major parabolic acceleration...
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.
