Bearish end to a bearish week

Precious metals continue to see every minor bounce faded, with Gold and Silver seeing Friday declines of -0.5% and -1.0% respectively. Across the week, Gold and Silver fell by -2.2% and -6.0% respectively. New multi-year cycle lows look due into the spring.


GLD,weekly

SLV, weekly

Summary

Little to add.

The near term trend remains increasingly weak, and the bigger weekly/monthly cycles remain broadly bearish.

Gold is headed for the giant $1000 threshold.. with Silver in the 12/10 zone.

It remains viable by late summer, Gold 900/875..as a final capitulation level.