The silver market spiked up to as high as $19.75 mid week before finally succumbing to heavy selling pressure on Thursday. The selling continued into Friday morning as the white metal fell all the way back to $18 before rallying strongly off that level. As of this recording, spot prices come in at $18.69 an ounce as silver hangs on to a weekly gain of 1.4%.

Silver continued to show strong relative strength versus gold earlier this week, sending the gold to silver ratio below 80 – its lowest reading in more than a year.

Gold ran into resistance around the $1,550 level for the second straight week before pulling back. The monetary metal currently trades at $1,520 per ounce, essentially unchanged now since last Friday’s close.

Turning to platinum, the latest precious metal to break out of a long consolidation base touched the $1,000 level for the first time since early 2018. Platinum prices are now settling down at $958 but are still registering a ga ... Read more »