This week is price-wise very important: we are awaiting confirmation of the new trend in PM’s “after bottom” or if this was just a death cat bounce, as many anti-metals folks are saying…
If gold holds at 1250 to 1300$ level, the price base is still forming and the yellow metal is regrouping after steep loses. I would not be surprised to see gold testing 1300$ at least once this week. Any level above are a very good sign, so is silver getting more comfortable at the 20$ level, and that’s a major psychological level. Same exact argument for silver testing 21$ level as equivalent of 1300$ gold. Metals are in the same boat, also to watch, palladium closing the week testing the 750$ mark.
Daily updates on premiums, inventories and supply tomorrow at market’s open…