• Big recovery since early May.
• Economics support higher prices.
• Politics support higher precious metals prices.
• Technical indicators support higher prices.
The four metals that trade on the COMEX and NYMEX divisions of the Chicago Mercantile Exchange are precious because they have long been not only industrial metals but they represent a store of value. Gold and silver are two of the oldest means of exchange in history. The Bible makes many references to the precious metals that are rare and lustrous. Platinum and palladium have many industrial applications, but they too have experienced periods where investor demand has influenced prices because of their rarity and applications because of their density and high resistance to heat.