Bad start to the week

The metals opened a touch weak, but with the USD building gains, the metals were pressured strongly lower. Gold and Silver saw net daily declines of -1.1% and -0.8% respectively. Near term outlook remains bearish.


GLD, daily

SLV, daily

Summary

It is unquestionably clear... a higher USD... is a major problem for ALL US asset classes. Most vulnerable remain the metals...Oil/gas, and then equities.
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The 2013 lows look set to be taken out at some point... whether late this year... or next year... it really makes no difference.

*I have zero interest in going long Gold/Silver until the giant $1000 threshold is tested.. which might equate to Silver $12/10.