Metals pushing higher

Whilst the main equity market broke to new highs, the precious metals also managed to push higher, and appear to be in some kind of major up wave. Gold and Silver closed with gains of 1.9% and 2.1% respectively. GLD could rally into the low 140s, before new lows in 2014.


GLD, daily

SLV, daily

Summary

Suffice to say, good gains for the metals, and we are clearly breaking up and away from a significant multi-week down wave.

Near end targets:  GLD,  140/42,    SLV 23/24
--

Mid-target downside targets for 2014/15 remain unchanged, with GLD 90s, and SLV 12/10.