Happy Thanksgiving!
HAI wishes all readers the happiest of happy Thanksgivings! This holiday-shortened week was a very good one for the precious metals. Notably, silver surged to new all-time highs and appears to be assuming the leadership role within the precious metals sector. Silver’s energetic breakout now seems to be highlighting the direction that gold and the precious metals mining stocks will soon follow. Short-term volatility notwithstanding, it looks like we are in for exciting times in the PM sector for the foreseeable future!
Lord, ’tis Thy plenty-dropping hand
That soils my land,
And giv’st me for my bushel sown
Twice ten for one.
All this, and better, Thou dost send
Me, to this end,
That I should render, for my part,
A thankful heart.
– by Robert Herrick
Happy Thanksgiving indeed, all!
Weekly performance: The S&P 500 was up 3.73%. Gold gained 3.82%, silver surged 12.72%, platinum launched 10.61%, and palladium was up 4.96%. The HUI gold miners index rocketed 14.05%. The IFRA iShares US Infrastructure ETF gained 4.35%. Energy commodities were volatile and higher on the week. WTI crude oil was up 2.38%, while natural gas was up 4.13%. The CRB Commodity Index was up 2.00%. Copper was up 3.90%. The Dow Jones US Specialty Real Estate Investment Trust Index was up 1.79%. The Vanguard Utilities ETF was higher by 2.87%. The dollar index was off 0.67% to close the week at 99.51. The yield on the 10-yr U.S. Treasury was off 5 bps to close the week at 4.02%.
Have a wonderful weekend!
Morgan Lewis
Investment Strategist & Co-Portfolio Manager
MWM LLC
