Wednesday 19 March 2014

Post FOMC metal declines

Gold and Silver closed lower for the second consecutive day, with declines intensifying after the FOMC decision to cut QE by a further $10bn a month. Gold and Silver saw net daily declines of -2.0% and -1.1% respectively, and look vulnerable to further weakness into the weekend.


GLD, daily


SLV, daily


Summary

Suffice to say...near term weakness, but so far..the mid-term trend for both is still bullish.