11th May 2018

 We have just returned from a copper conference late on Wednesday and because we are in the process of catching up, we will only issue this abbreviated note before returning to our normal coverage on Friday. Suffice to say that while we were away, the precious metals group has done considerably better, with the bulk of the gains taking place in silver along with platinum and palladium. Some of this advance was attributable to somewhat oversold conditions in the three aforementioned metals, while in gold’s case, the fact that key support at around $1303 held on a closing basis earlier this month was technically significant and allowed fund money to do some bottom fishing at this proven level.