09 April 2013

Gold Daily and Silver Weekly Charts - Metals Rally Along With Equities and Miners Outperform

The recently acquired miners, particularly in silver and the better pedigreed gold producers, provided a welcome change of pace today.

I was a little bothered that the metals rallied with stocks, but that they were oversold was unmistakable.

So what next? I bought a little more volatility to go along with the metals holdings as I think we are far from clear of the current troubles. I trimmed a little off the miners today, as one ought never to look at a gift horse in the mouth, and am holding what I would like to see become a 'core' of holdings for quite some time.

Let's see what the FOMC minutes bring tomorrow afternoon, and how the markets in Asia and Europe do overnight.

Have a pleasant evening.