Metals back on the rise

After a couple of weeks of weakness, the precious metals of Gold and Silver saw a positive week, with net weekly gains of 0.4% and 3.9% respectively. Near term outlook is bullish, within a broader bullish trend that extends back to the Dec'2015 lows.


GLD, weekly

SLV, weekly

Summary

Suffice to add... short term bullish... after a few months of chop (leaning weak).

Mid term bullish trend remains intact.

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Things only turn bearish if...

GLD <124.. aka.. spot Gold $1290
SLV <17... aka Silver $18... as of late October - relating to rising trend from the Dec'2015 low.

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As ever... implications for the related mining stocks should be clear.. regardless of which ever direction the broader equity market might take.