Luckily or not, 2017 is behind us. It was a positive year for the gold market, as the yellow market gained more than 12%. However, investors are forward-looking, so let’s focus on what the coming months will bring.
Oil prices pulled back after Brent crude hit its $70 per barrel objective and Chinese crude oil imports hit a record high but was a bit shy of expectations, but still strong as global demand is surging, global supply is falling and then there is the dollar.
The precious metals sector moved higher in the first days of this year, but based on yesterday’s decline and the current price levels, 2018 is already a down year for silver and mining stocks. Is the rally indeed over?