by Alasdair Macleod, GoldMoney:
Gold and silver rose on the week, with gold up $21 from last Friday’s close at $1721 in morning European trade today and silver up 70 cents over the same timescale at $15.48. For gold and silver, the week started on a subdued note after the previous week’s fall, before picking up strongly yesterday (Thursday). Silver was sharply higher, open interest having fallen to a very low 132,725 contracts. Preliminary figures for yesterday show an increase of 4,357 contracts, which for silver is a bullish increase. The position is shown in our next chart.