Prices rallied a bit on Friday but it wasn’t enough to pull gold even for the week.
Gold ended the week down $3.00 to $1,710.30 and silver was off $0.10 to $32.06, and the silver/gold ratio ended the week at 53.3.
Gold is down, but it’s down from $1,780 an ounce and showed fairly good resistance in maintaining prices above $1,700. By way of a reminder, we were trading near $1,580 back in August. If $1,700 represents the new normal in pricing, that’s huge.
Keep downward pressure on gold prices are the strength of...