Whilst the broader US market closed flat, there was some notable weakness in the precious metals. Gold and Silver saw net daily declines of -1.4% and -2.1% respectively. The broad monthly trend remains starkly bearish, and the huge $1000 level for Gold is likely to be briefly broken.
GLD, daily
SLV, daily
Summary
There is little to add.
For the gold/silver bugs out there, Gold and Silver remain two commodities that remain within a multi-year down trend, and there is still no real sign of the declines ending.
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mid term targets: GLD 105/95, SLV 12/10
