Wednesday 26 June 2013

More metalic destruction

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