: The Market Oracle ::

Commodities / Gold & Silver 2019
Jul 02, 2019 – 03:47 PM GMT

By: MoneyMetals


Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.

Coming up we have an interview with Greg Weldon that you absolutely are not going to want to miss. Hear what Greg has to say now about gold after accurately predicting the recent breakdown point to the dollar on this very podcast a little over a month ago. We’ll also get his thoughts on lagging silver, hear his breakdown the generational high we’re seeing in the gold to silver ratio right now and why he is on the verge of making a major trading decision in the white metal ahead of a big move he sees coming. All that and more coming up in our interview with Greg Weldon, right after this week’s market update.

Precious metals markets are set to close out the week, the month, and the quarter with underlying strength building for some big moves ahead.

The standout performer this month has been gold, breaking above $1,400 an ounce. Meanwhile, the raging palladium bull market is still powering ahead – with prices on the verge of posting new all-time highs. Even the lagging metals, silver and platinum, are showing signs of lifting off major bottoms.

For the week, gold is up 0.9% to bring spot prices to $1,412 an ounce. Silver shows a weekly decline of 0.5% to trade at $15.33. Platinum looks higher by 2.6% since last Friday’s close to come in at $834 per ounce. And finally, palladium trades near a record high this Friday morning at $1,557 thanks to this week’s 4.5% advance.

Although there could be summer doldrums and a period of consolidation coming up for precious metals, the longer-term technical and fundamental outlook appears to be quite favorable. Bulls are anticipating the Federal Reserve’s full capitulation to easy money policies as soon as the FOMC’s next meeting in July.

President Donald Trump went on quite a series of rants this week aimed at the Fed. He minced no words…

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