Metals Minute 18: Metals Continue to Shine

Gold has fought its way back from a 9-month low to end the week flat at 1722. Silver, Platinum, and Palladium all finished down 2% since last week, with Silver at $25.90, Platinum at $1176, and Palladium at $2328.

For the 1-yr metric, Gold is up 4%, Silver is up 53%, Platinum is up 34%, and Palladium pulls up the rear down 4% since 1-yr ago today.

As we explain more fully here, the 10-20 Indicator suggests that the bottom for Gold is likely in, with a historical expectation for a 20%+ gain for Gold on the current run. Other patterns are favorable for the metals, such as Gold holding above significant Fibonacci technical support levels in the recent smash, interest rates coming back down, and overbought Dollars beginning to ease in relative strength.

When inflation is factored in, real interest rates are currently negative, which is a positive for Gold and Silver. New mortgage applications are down 47%, which is putting downward pressure on these rates right now.

When combined with the Basel III Initiative and the “Silver Squeeze” movement on social media, the prospects for physical Gold, Silver, and Platinum continue to shine.