Metals continue to push higher

With continued general weakness in the equity market, the metals are probably gaining (at least partly) on a 'fear trade' basis. Gold and Silver settled with gains of 1.5% and 2.2% respectively. Near term outlook is bullish, with next upside target of GLD 137 - around $50 higher for spot Gold.


GLD, daily

SLV, daily

Summary

Suffice to say, the metals are battling higher..although Silver is still much weaker than Gold, but is catching up.
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I'm still largely dismissive that a grand multi-year low is already in, the only thing that'd get me to drop that outlook would be a monthly close >$1500 Gold.