Silver Recovers, Gold Still in Short Term Doldrums , Base Metal Strong Amid Industrial Strength

MyPlanIQ submits:Commodities ended the week strong amid industrial strength: the ISM manufacturing index rose to 60.8, exceeding the most optimistic forecast in a Bloomberg News survey of economists, according to a Bloomberg's report. Gold (GLD) hit 129 and bounced back. Though it is in a short term downtrend, it remains in a long term up trend. It closed the week above its 130 days EMA. Silver (SLV) is stronger than GLD, recovering above its short term 50 and 20 days EMAs. This is consistent with our previous analysis: silver, as an industrial metal, is closely tied to economic activities. The following table shows the trend scores of commodities. For more detailed performance, refer here. Assets Class Symbols 02/04 Trend Score 01/28 Trend Score Direction Silver SLV 32.25% 26.43% ^ Agriculture DBA 18.89% 17.0% ^ Base Metals DBB 13.6% 8.7% ^ Commodity DBC 13.51% 12.1% ^ Precious Metals DBP 10.72% 8.67% ^ Energy DBE 10.25% 10.17% ^ Gold GLD 6.73% 5.47% ^ US Oil USO 1.37% 3.04% v Natural Gas UNG -12.75% -14.92% ^ The trend score is defined as theComplete Story »