Precious metals saw some very positive technical developments last week:

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Gold Daily

Gold_Daily_1.3.2014

 

Silver Daily

Silver_Daily_1.3.2014

Platinum Daily

Platinum_Daily_1.3.2014

A thoughtful quote from Capital Economics analyst Julian Jessop which we tend to agree with:

“The consensus is that the price of gold will grind lower in 2014, at best, as the support from loose U.S. monetary policy gradually weakens......In contrast, with investor sentiment already so heavily negative, our view is that the risks for the coming year are firmly skewed to the upside.”