Mar 28, 2020
Gold closed last week at $1484/oz. A week later, the yellow metal is firmly positioned at $1627/oz, having experienced some of the largest single day movements in its history. Silver fared equally well, rebounding from $12.35/oz to $14.48/oz this week (prices are in USD).
The price action was reflective of continued strong demand, bordering on 'extreme', for the metals. At this point, it's safe to say that most of the required selling of metal positions to cover margin calls and other liquidity requirements has ended. The fundamentals are now setting up nicely moving forward.