In my last piece on precious metals ( here ) I was looking for a bottom in the sector. Well, while some tough speculators are probably betting heavily on this bottom, this is still an open matter.
Let us look at the chart below:
Both silver and gold are still in their technical down-trends - which is still an argument for the metals sellers.
On the other hand, the big argument for the goldbugs is that both metals are above their bottoms recorded at the end of June 2013.