Precious Metals Commentary

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Precious Metals Commentary - Bob Hoye *PIC*

Precious Metals Commentary
Technical observations of RossClark@shaw.ca
Bob Hoye
Institutional Advisors
Posted Jan 25, 2012
Written Jan 22, 2012

Silver and platinum have managed to close above their resistance lines from the summer highs while gold is progressing in a slower manner. Any minor corrections of $50 to $70 in gold followed by a breakout would point towards a test of $1900 by mid March. Silver should be expected to find support around $30.50 and be capable of challenging the green upper moving average band currently at $36.60 (8% above the 100-day average of the highs). In this seasonally positive period for precious metals, platinum should find support on pullbacks at the 20 & 50-day exponential moving averages (currently $1642 to $1695).

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