The precious metals of Gold and Silver cooled for a third week, which resulted in net June declines of -$50.20 (3.8%) to $1254.50, and -$0.26 (1.6%) to $16.20 respectively. Near term outlook offers further downside, not least if the USD climbs to the DXY 96s or higher. The m/t outlook would turn decisively bearish if Gold <$1238 and Silver <$16s.
Gold settled net lower for a third consecutive month, breaking a new low for the year of $1246.90. The Dec'2017 low of $1238 is critical. Any price action <1230 would be decisive, and bring back on the menu, legacy target of 900/875.
Silver saw June weakness, but price action is far more choppy than gold.July is going to be a very important month, especially for Gold.