A quick look at how the week ended on Friday. With two major anchors now lifted, options expiry and the jobs report, gold and silver should be much more buoyant short-term. All in all though, gold and silver performed admirably last week considering the continual and heavy suppression.

Regards - VHF

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Gold slipped $1.10 per ounce last week. Gold effectively remains locked in a trading range between $1,382.60 and $1447.30 U.S. per ounce. Short term momentum indicators are slightly overbought and trending down.

Silver added $0.47 per ounce last week. An intermediate uptrend remains intact. Short term momentum indicators are overbought. Strength relative to gold remains positive.

Platinum added $16.00 per ounce last week. Resistance near $1,779 was found. Short term momentum indicators are overbought.

The TSX Gold Index slipped 5.30 (1.33%) last week. Short term momentum indicators have peaked. ‘Tis the season for the sector to underperform the TSX Composite Index.

Copper fell 16.05 cents (3.63%) last week. Short term momentum indicators have weakened to a neutral level.

The CRB Index was virtually unchanged last week. Strength in energy was offset by weakness in metals. Short term momentum indicators are overbought.

Gasoline gained $0.10 per gallon last week. It broke resistance at $3.094 to reach a 33 month high. Short term momentum indicators are overbought, but have yet to show signs of peaking. ‘Tis the season for gasoline prices to move higher until the end of May.

Crude oil advanced $2.61 per barrel (2.48%) last week. Its intermediate uptrend was confirmed on a breakout above resistance at $107.34 on Friday to a 30 month high. Short term momentum indicators are overbought, but have yet to show signs of peaking.

Natural gas slipped $0.11 per MBtu (2.46%) last week. Short term momentum indicators are overbought and showing early signs of rolling over.

The U.S. Dollar Index slipped 0.37 last week. Intermediate trend is down. Support is at 75.25. Short term momentum indicators are neutral.

The Euro added 1.56 last week. Intermediate trend remains up. The Euro is testing resistance at 142.81. Short term momentum indicators are overbought.

The Canadian Dollar gained 1.93 cents U.S. last week. It confirmed an intermediate uptrend on Friday on a break above resistance at 103.42 to reach a 3.5 year high. Intermediate upside potential following the breakout is to106.70 cents U.S. Short term momentum indicators are overbought, but have yet to show signs of peaking.

The S&P 500 Index gained 18.61 points (1.42%) last week. Intermediate trend is up. The Index remains above its 50 and 200 day moving averages and is testing resistance at 1,344.07. Short term momentum indicators are overbought, but continue to trend higher.

The Dow Jones Industrial Average added 156.13 points (1.28%) last week. An intermediate uptrend was confirmed on Friday when the Average broke above resistance at 12,391.29. The Index remains above its 50 and 200 day moving averages. Short term momentum indicators are overbought, but have yet to show signs of peaking. Strength relative to the S&P 500 Index remains positive.

The TSX Composite Index gained 90.76 points (0.65%) last week. Intermediate trend is up. Nice bounce from near its 50 day moving average! The Index is testing resistance at 14,329.49. Short term momentum indicators are overbought, but have yet to show signs of peaking. Strength relative to the S&P 500 stock remains positive.

The yield on 10 year Treasuries was virtually unchanged last week. Short term momentum indicators are overbought. Yield remains in a four month trading range between 3.141% and 3.744%.