Wednesday 28 November 2012

Metals lower..on Dollar strength

Despite the indexes seeing a sharp morning reversal, the precious metals failed to close green, and Gold and Silver saw declines of 1.3 and 0.9% respectively.

GLD, daily

SLV, daily


The break of channel/trend in gold is quite important, although Silver is surprisingly holding within the channel.

The bigger weekly/monthly charts continue to warn of weakness into next year, unless we break above the Sept/Oct highs.