Friday 11 April 2014

Metals somewhat higher

The precious metals saw some strength across the week, with net weekly gains for Gold and Silver of  1.1% and 0.2% respectively. Near term outlook is somewhat uncertain, with conflicting smaller/larger cycles. Broader trend remains to the downside.


GLD, weekly


SLV, weekly


Summary

Again, Silver is very weak, relative to Gold. Yet, even Gold is still struggling in many respects.

I am Still seeking broader downside targets of Gold 1000/900s, with Silver 12/10, no later than mid 2015.