Silver has closed the week out at 19.72 for an impressive gain of 5.55% on the day, and to post the largest weekly gain on the year thus far, and likely to be the largest weekly gain over the last 2-3 years.
Resistance in the metal was seen at 18.19 reflecting a spike low from June 2013, as well as the highest weekly close in January 2015. The instrument was rejected from the level in the prior week, but managed to close well above it this week.
A divergence was seen among the metals, as Gold continues to struggle to break past the spike high set during the EU referendum vote. The yellow metal saw gains limited to 1.48% on the day, and closed the green in the week at 1340.94, scaling above monthly resistance seen at 1326.