Wednesday 11 December 2013

Metals looking very vulnerable

With the main US market somewhat weak, the precious metals were similarly weak. Gold and Silver settled -0.8% and -0.6% respectively. Baring a few daily closes above the old broken support, metals look vulnerable to further strong downside into year end/early 2014.


GLD, daily


SLV, daily



Summary

Suffice to say, metals look stuck under old broken support.

Near term targets remain: GLD 110, SLV 17