Market Report: PMs Rally on US Politics

by Alasdair MacLeod
Gold Money

After establishing some support last week, precious metals continued their rally this week, with Wednesday being especially strong.

[…] At its best, gold hit an intraday high of $1265 before trading down to $1247 yesterday (Thursday) and rallying to $1251 in early European trade this morning. Silver, on the same time scale, fell from its mid-week high of $17.04, trading down to $16.45, before rallying to $16.73 this morning.

After a particularly pernicious slide, gold and silver were due for some consolidation anyway. As I wrote in last week’s report, on a technical basis, a rally to test overhead supply for gold at $1250 seemed likely ($16.95 for silver), and that happened rather rapidly.

Continue Reading at Wealth.GoldMoney.com…

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

  

  

  

Time limit is exhausted. Please reload the CAPTCHA.