GLD, weekly
SLV, weekly
Summary
With the US capital market in super confident mood, the precious metals saw a marked lack of faith this week. The USD strengthening into the DXY 102s sure didn't help either.
However, its important to keep things in perspective. GLD has rallied around 12% since the Dec'2016 low, with SLV having risen around 17%. These are very significant gains, and periodic retraces have to be expected.
For now, the broader trend is bullish. That only provisionally changes if rising trend is broken. The metal/miner bears can only really get excited if the Dec'2016 lows are broken. On balance, that really doesn't seem viable, even if the USD can climb another 2-3% into early summer.
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