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
Summary
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.