April 23, 2018 -- Silver outperformed gold last week as those speculating on lower silver prices found themselves in a bit of a short squeeze. An improving technical outlook contributed as silver managed to close above both the 50-day and 200-day moving averages. However, gold finished the week a bit lower, and gold and silver have BOTH pulled back today. Gold needs to take out its 2018 highs near $1,370 before there is technical confirmation the metals are breaking higher. Meanwhile, another nation voted no confidence in the New York Fed providing storage for their gold reserves. Turkey is joining Germany, Austria, Venezuela and the Netherlands by moving gold bars home. The amount of physical gold stored by the New York Fed has dropped to the lowest amounts on record.


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