David Fuller's view Gold (monthly, weekly & daily), platinum (monthly, weekly & daily) and especially palladium (monthly, weekly & daily) and silver (monthly, weekly & daily) are ending the year on a very firm note. There should be further strength ahead because investors remain suspicious of fiat money, not least the US dollar and euro, which are still the main reserve currencies.

Also, some prospective buyers had been hoping that gold and other monetary metals would retest their rising 200-day moving averages. Only platinum did this and it cannot happen again anytime soon for these four metals without breaks in the recent progressions of higher reaction lows. These are best seen on the daily charts above and here are the key short-term levels to watch: gold's mid-Dec low at $1360, silver's early-Dec low at $28, platinum's early-Dec low near $1665 and palladium's early-Dec low near $715.

Palladium and silver remain the upside leaders for this medium-term advance within the secular uptrends. Consequently they will most likely also provide the first evidence of downward dynamics, possibly in the form of key day reversals, to signal the onset of the next correction. Interestingly, platinum shows evidence of a failed bear raid today, in what was most likely an attempt to trigger stops in quiet yearend conditions.