The events of last month prompted a bit of safe haven buying in the yellow metal. If equities and the USD collapse again, gold should move a bit higher. Prices remain above moving averages, look for solid support near 287, but if we close below that for two consecutive sessions, it s likely that the bears will push the market lower. Keep in mind that there is risk of loss in all trading. Over the week silver slowly edged higher and closed at468.5, up 2-cents.
Volume appears to be quite light and is waning.
I would expect silver to follow. Bulls can take solace in the fact that we re still trading above moving averages and prices last week did break above the top of a bull flag. Look for support near 457. However, a break through support could send prices plummeting as we are approaching a bearish seasonal time window. Keep in mind that there is risk of loss in all trading.