Yet another day of carnage and price destruction in the precious metals market, with Gold and Silver seeing severe declines of 5.2% and 4.1% respectively. Near term trend looks dire, and mid-term outlook offers further drops to Gold in the $900s, and Silver in the $12/10 area.
GLD, daily
SLV, daily
Summary
The trend continues....targets remain GLD 120, SLV 17s
1-2 yr targets.. GLD 90s, SLV, 12/10