Gold and silver soar

By Alasdair Macleod – Gold Money

In this report, we examine technical and market positions for gold and silver, concluding that $3,000 is not a hurdle for gold and that silver has significant catching up yet to do.

Gold and silver rose strongly this week, with gold going into new high ground, while silver, which has underperformed gold recently is catching up rapidly. In European morning trade, gold was $2999, up $90. And silver at $33.98 rose $1.48. That makes gold up 14% so far this year, while silver is up 18% — strong performances in sharp contrast relative to other asset classes which are sliding into bear markets.