Tuesday 1 May 2012

Another down day for Gold & Silver

The weakness continues. Again, on a day when the broader markets were up, the Precious metals failed to participate/hold onto early gains.

GLD, daily

SLV, daily


SLV again flirts with the big $30 level, and still looks set for a bigger snap down sometime 'soon'. GLD remains stronger, but the last few days have still failed to offer a decisive new move higher.

The bigger weekly and monthly cycles remain warning of bigger falls to come across the early summer.