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COMMODITY INSIGHT
152 Ennis Lake Road, Ennis, Montana
(November 9, 1997) METALS: The gold market ended the week on a sloppy note with nearby futures dropping $2.00 an ounce. The slide in prices on Friday was not all that bad, but the fact of the matter is that it was still the second lowest close for gold in 15 years. The gold market remains the weak link in the metal complex.
My bias is to be a buyer of silver on any break. I have made that perfectly clear over the past several months. In recent weeks, I suggested longs in December silver at $4.69 on my website and $4.79 on my regular newsletter. In both cases, profits were realized at those levels. If silver dips back to either level, long positions should once again be contemplated.
Jerry F. Welch
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