I was glad that we mentioned PM’s bullish in the short term few days/weeks ago and last week we had silver closing with his best week in 6 months and gold stable and up 6% YTD. Not yet out of the woods or propelled above key resistance levels , but getting closer. These levels for gold are very important and silver is still lacking behind but that is “normal” for the white metal… I like the fact that metal are finally moving in the opposite direction of the equities market, as they should , something that was not the case last year and the previous and also a reason for frustration for many of us. If the safe haven status is back and the markets are heading down, the debt ceiling is next, and much more is headed this way, then we should be having soon a good 2014!
On the physical market i wanted to point out that we received 25,000 ASE last Thursday and by Friday they were all on the shipping cart ( and also on the floor due to the lack of space…) less than 24 hrs! We also experienced good demand in gold ( 20 francs and Sovs. ) and I personally sold last week hundreds of each specimens.
Premiums haven’t change much, more updates coming soon!
Ciao and thanks for reading!