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Silver and Gold Higher


While the silver market is clearly outperforming the gold market in the early Thursday US trade, both markets appear to be locked in a continued upward thrust on the charts. Not surprisingly, bullish market chatter is intensifying, and a-number-of analysts are dramatically raising their price targets.


The palladium market has forged another higher high for the move and a 6-day high in the early going today in a fashion that suggests it is carving out an uptrend of its own. As opposed to palladium, the platinum market has forged another noted upside breakout and is close a gap left from February which in turn is within the vicinity of the 2020 highs.


It would not have been surprising to see copper tracking higher this morning, as it appears that Chinese officials are attempting to head off a worsening of relations with the US by promises to discuss the problem areas from the Phase 1 trade deal next week. In fact, the market should be underpinned as-a-result of the 37th straight decline in daily LME copper warehouse stocks.

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