A brutal month for the metals

July saw Gold and Silver decisively break the Nov' 2014 lows, with net monthly declines of -$77 (6.6%) @ $1095  (intra low 1072), and - $0.92 (5.9%) @ $14.74. Near/mid term outlook remains very bearish, with Gold set to test the giant $1000 threshold.


Gold, monthly2

Silver, monthly'2

Summary

With $1130 being taken out, Gold is back on the slide... following Copper and Silver lower.

With the USD set to break back the DXY 100 threshold, the metals are going to remain under pressure for at least another few months.
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Holding to original targets of Gold $1000, with Silver 12/10.