Events Impacting Gold And Silver In The Week Of March 23d

Jon Banking, Blogosphere, Economy, Fiscal Policies, Gold, Market Commentary, Precious Metals, Silver

In this article, we summarize which events in the week ahead could impact the gold price and silver price. At the bottom of the article we explain that these events are generaly no fundamental drivers, but mostly the result of trading in COMEX futures.
Over the last week, between March 16th and 20th, both gold and silver were consolidating during the first days of the week. Gold tested a couple of times the $1145 level and silver $15.45. However, those key support zones did hold, and both metals went sharply higher on the Fed announcement on Wednesday that they would not rise interest rates in the short run. After a small consolidation on Thursday, both metals went again meaningfully higher on Friday. In relative terms, silver has done much better during the rallies. Are these early signs that silver is about to outperform gold? We will need more confirmation before getting too excited, but the early signs are surely encouraging.

This post was published at GoldSilverWorlds on March 23, 2015.