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Silver Posts Largest Weekly Jump This Year


Silver has closed the week out at 19.72 for an impressive gain of 5.55% on the day, and to post the largest weekly gain on the year thus far, and likely to be the largest weekly gain over the last 2-3 years.
Resistance in the metal was seen at 18.19 reflecting a spike low from June 2013, as well as the highest weekly close in January 2015. The instrument was rejected from the level in the prior week, but managed to close well above it this week.
A divergence was seen among the metals, as Gold c…
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Metals Update

Yesterday I blogged about a potential long opportunity and several key technical areas in the metals.
There was an interesting article that I came across since then, which adds more conviction to the trade. This was published by Reuters on July 7.
UPDATE 1-U.S. Mint sold out of silver coins due to strong demand
Follow the link to read the full article. The most interesting part of the article was this
This is the second time the mint has sold out of silver coins in the past nine months
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Shinga avatar
Shinga 2015年07月09日

interesting Jignesh

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Establishing Gold & Silver Longs for a Swing Trade


There is a technical setup in Gold I've been keeping a close eye on for the last few years. Monitoring the wave structure trying to catch a good level to go long.
According to the wave count in Gold, the bottom has already taken place on Nov 5th, 2014 @ 1130.
Since then the price has seen a bullish move and a deep retracement.
The charts below show the setup and wave counts.
Figure 1 - XAUUSD Daily holding it's trendline and key 88.6% Fib Level

Figure 2 - XAUUSD Daily Wave Count

Th…
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