17 May 2021

Stocks and Precious Metals Charts - Who Let the Dawgs Out? - Gold and Silver Rally Higher


"Gold has worked down from Alexander's time.   When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory."

Bernard M. Baruch 

 

"You have to choose between trusting to the natural stability of gold and the natural stability and intelligence of the members of the government.  And with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold." 

George Bernard Shaw

 

Stocks were off again today, but gathered themselves and managed to take back quite a bit of the losses in the afternoon.

But gold and silver were the real surprise today, bolting higher and never looking back.

Who let the dawgs out?

Both metals smacked up through overhead resistance, and managed to take it up to the next key level.

My favorite silver miners were the stars on the board, gaining 10-15%.

Not bad for a day's work.

There will be a stock market option expiration this week Friday.

Comex precious metals option expirations next week.

Let's see if the metals can hold their ground and move higher.  

Or not.

Have a pleasant evening.