For the week gold was up 2.1% silver was up 6.6%, and the Dow Jones Industrial Average (DJIA) was up .22%. Is the DJIA losing upside momentum?
Silver went above its 50-day moving average this past Wednesday, May 6, 2026. This usually brings in the momentum buyers. It has been above its 200-day moving average since April 2025 when it was around $32 an ounce. Gold bounced off its 200-day moving average at around $4,100 an ounce on March 23, 2026 and is only $65 from its 50-day moving average. Nothing wrong with being a little early on a purchase!
Interesting news was that this week Kosovo’s Central Bank announced on Wednesday, May 6, 2026, that they bought gold for the first time in history and it is for diversification purposes.
Until next time…