The short term bullish run for the precious metals has come to an end, with Gold and Silver seeing net weekly declines of -$10.70 (0.8%) to $1264.60, and -$0.44 (2.6%) to $16.25 respectively. Near term outlook is bearish, with Silver leading the way lower.
Suffice to add, with the USD ending the week with a bounce (partly inspired by the jobs data), the precious metals are under some significant downward pressure.
Silver is particularly bearish, with a series of lower highs and lower lows. Gold remains within the mid term bullish trend from Dec'2015.
The one indirect bullish aspect... copper, which recently broke above key resistance of $2.70, and is currently close to the key $3.00 threshold. Any monthly close >$3.00 would eventually suggest Gold and Silver will eventually catch up.