The price action in the precious metals sector of the commodities market has been constructive since prices fell to lows in gold and palladium in mid-August and when silver experienced a false break to the downside in mid-November. Silver is trading above $15.30 per ounce, and at the beginning of January, gold briefly probed above the $1300 per ounce level on the nearby COMEX futures contract.
Meanwhile, the price of palladium exploded to the upside on supply fears. Palladium moved to a level that is higher than gold as the price almost touched the $1400