Meanwhile, silver blew through $28 and $29 ounce on Thursday and knocked on the door of $30. But even with another week of solid gains, there still seems to be a lot of skepticism about precious metals. Peter talked about gold's bull run on his podcast and said it's the most unloved gold bull market he's seen in his entire career.
On Friday, we did finally got a corrective sell-off. Gold was down about $40 at one point and silver fell back below $28 for a time.
But even with the selloff, gold still closed well above $2,000 and was up 3% on the week. Silver ended up closing above $28 and saw a 15.5% weekly gain. Gold has closed higher for nine consecutive weeks. But as Peter pointed out, there have been down days.
Nothing goes up every single day, and gold and silver are not going to be the exception to that rule. There are no bull markets that are up every day. You're always going to have down days."