Another weekly gain

The precious metals saw some dynamic swings across the week. Gold and Silver both saw net weekly gains of 0.9%. Near term outlook is mixed... and the broader trend remains unquestionably still very bearish... to Gold $1000.. if not the low 900s in 2015.


GLD, weekly

SLV, weekly

Summary

*the metals opened significantly higher this morning, but with the USD holding strong gains - at the highest level since summer 2010, the metals cooled.
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Little to add... a second weekly gain for Silver.. whilst Gold managed a third consecutive gain.

Overall though, this weeks gains do little to negate the broader downward trend.