It was a rather mixed week for the precious metals, with net weekly changes for Gold and Silver of -1.1% and +1.0% respectively. Near term outlook offers threat of a minor bounce, but the mid term outlook remains broadly bearish... at least to Gold $1000, if not the 900/875 zone by summer 2016.
GLD, weekly
SLV, weekly
Summary
Little to add.
Commodities - especially the precious metals, remain within the broad downward trend from 2011.
For now... there seems little reason to be long the metals (paper or physical).. or the related mining stocks.
