Weekly Wrap - 21st Feb - Volatility ticks up & 8th consecutive weekly ATH close for Gold

Plus a look at Silver, Copper, Platinum, Major Indices and a bonus audio

NB - This is the first newsletter where I have had the ‘‘post too long for email’’ notice come up. Likely due to the abundance of graphs. I hope this does not disturb the viewing of it.

My apologies if the graphs look a bit different his week. This is because Trade Nation have been playing around with the formatting of their charts. The only exception is Platinum because I use Trading View in order to obtain that chart.

Summary of the markets this week

• Major indices look like they are turning down (see RSI on the charts)

• DAX makes a new intraday high before tailing off

• Another new weekly ATH for Gold (8th week in a row)

• Copper slightly up

• Oil down

• Nat Gas up (likely due to cold weather)

• Platinum slightly down

Gold

A mixed week on Gold. The Weekly close was the 8th ATH in a row ($2,936 - closing about 54 cents higher than last week). Podcast guest

Don Durrett

believes that another couple of weekly ATH’s from here would not be out of the question and I’d be inclined to agree.

The Daily closes show a mixture of candles but, ultimately, the trend is your friend until proven otherwise.

Daily and Weekly charts below.

Silver

Silver has also sneakily achieved 5 consecutive weekly high closes. Last Friday Mr Slammy well and truly showed up. Today looks like the same happened but just not as extreme as Friday 14th February. Mr Slammy and the bankers sure do like Fridays. That being said, silver still finished the week up 38 cents.

Daily and Weekly charts below.

I don’t doubt that Gold will plough through the $3,000 but it is now a question of when this is likely to happen. The major indices are showing signs of a downturn. Copper and Platinum up next…..