The decline...is relentless

With the main equity indexes seemingly having peaked at sp'1422, it looks like the falling equity and general weakness in the commodity markets will only add to the woes for those bullish about the precious metals in the near term.


SLV, weekly

GLD, weekly

Summary

Not too much to add right now, the trends are continuing as expected. Holding to mid-term targets (no later than October), for Gold and Silver of $1200 and $20 respectively. They are indeed bold targets, and we may instead floor around $1400/1500 and $25/26...we'll be able to refine precise floor targets as we move into mid-summer.