by Gerardo Del Real
Outsider Club
Gold closed at $1323 an ounce, lower for the second week in a row. Silver was down 2.4% for the week and closed at $19.61. Copper also closed down for the week, settling at $2.23/lb., a loss of 1.2%
There were premature calls a few weeks back that since the dollar, the stock market, and precious metals were all higher it was time for gold and silver to break out.
Not yet. The dollar index hit a four-month high this week and rose 0.5% for the week.
That correlation is no longer holding up as U.S. stock markets continue into record territory.