This week, the end-February decline in gold and silver prices appear to be over, with a recovery based on a firm undertone. In early European trading this morning, gold was $2,920, up $60 from last Friday’s close, and silver $32.60, up $1.50.
Despite the recent transfers of physical gold into New York, there still appears to be a bear squeeze in place. Look at how Comex Open Interest has declined in the last few months as gold has continued to rise (upper chart):
