Metals very weak

Despite the main equity market soaring, the precious metals remain very weak. Gold and Silver were moderately higher in pre-market, but saw increasing weakness across the day, settling lower by -1.4% and -1.0% respectively. Near term trend remains weak, with declines likely into the weekend.


GLD, daily

SLV, daily

Summary

Suffice to say, many of the infamous 'gold bugs' out there will doubtless be very bemused...and annoyed that whilst the main US market soars...the metals actually closed a fair bit lower.
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The daily charts are offering a simple downward channel..there is very little to be bullish about the metals into end-year.