Metals looking weak

Despite opening somewhat higher, the metals were increasingly weak across the day. Gold and Silver closed +0.2% and -0.1% respectively, with the closing daily candles looking pretty bearish. The mid/long term trends remains starkly bearish..


GLD, daily

SLV, daily

Summary

There is little to add, to what remains a broadly bearish situation.

Today saw a simple opening gap higher, but there remains very little consistent upside in the metals..and underlying downside pressure remains the case.
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