Precious Metals Doldrums

We've hit a period of the doldrums within the larger bull market for precious metals. Spot prices have been slipping, futures are weak, investors are selling.

But overall, consider where precious metals are resting. Gold may have slipped the last few weeks, but it's still much higher than most would have imagined possible ten years ago. Platinum is just about double what it was just a couple years back. And silver is roughly three times its modest level of three years ago.

Step back from the day to day and just consider those figures. That's a lot of growth in a very short period of time.

Keep this in mind as you watch the spinning triangle of Gold, Oil and Currencies over the next few weeks or months. Each one of the three will take its turn in the spotlight, while the others soften. But none of the three will drop completely out of sight of the investor.

For metals, we are on a ledge. The $885 level we spoke of in a post last month seems to have held. Gold is not the darling of investors at the moment, but it's not far off the mark and it's waiting there for another turn in the spotlight.