Gold, monthly, fib levels
Silver, monthly, fib levels
Summary
Suffice to say..despite the Fed continuing QE at $85bn, the precious metals are simply not benefiting.
The net monthly falls are very significant, and if October closes with declines of any degree, then the June lows look set to be broken..certainly by early spring 2014.
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mid-term targets remain unchanged, with GLD in the 90s, and SLV in the low teens, perhaps 12/10.
