Gold and silver break out as ‘macro setup is shifting in favour of precious metals’

From kitco.com

Gold and silver are breaking out, and the macroeconomic environment is beginning to support a possible run to fresh highs in the metals complex, according to Ole Hansen, Head of Commodity Strategy at Saxo Bank. Hansen wrote that while he and many other strategists were predicting a period of prolonged consolidation, precious metals have surprised to the upside. “[J]ust days into June, the market narrative swiftly changed: gold and, more notably, silver pierced through key technical barriers, while platinum paused to consolidate after a sharp rally in May,” he said. “The immediate catalyst was a broadening ... (full story)