One of the greatest worries for investors and savers – and also everyone living on fixed income – is inflation, which could accelerate to levels not seen since the 1970s. One of the asset classes that ofer effective protection from inflation are precious metals. Over the recent months, as many commodities have rallied strongly (Oats, Coffee, Oil, Natural Gas, Corn, Copper…), Gold and Silver spent nearly a year treading water and going nowhere. But yesterday’s COMEX closing prices rounded out a clearly defined bullish technical picture. On the occasion I decided to publish this morning’s TrendCompass Major Markets report in full.

Silver

In May I wrote that Silver looked poised to stage a bullish breakout from the consolidation pattern it’s held since last August. I also warned that it is never a good idea to trade in anticipation of such events, but instead to wait for either a pull-back which often does happen in such circumstances, or for the bullish break-out itself. Now we’ve had a pullback and with yesterday’s strong close the technical picture looks much more clearly defined: