I’ve been suggesting for some time now that the PM complex is trading at a critical inflection point where they can have a big move in either direction.
The market looked at the speech as very dovish -- absolutely no hurry to raise interest rates and tapering is not linked to raising interest rates. All the metals take off..
Friday's Powell speech is a big market event. Silver is gaining on gold a bit. Gold backing off from the resistance area with the 18 d.m.a. around $1,781 area providing trading range support.