GLD, monthly
SLV, monthly
Summary
The net monthly decline bode badly for the rest of the spring..if not much of the summer.
The big question that many will now be asking is whether the December/June 2013 lows are going to be broken below.
That is a very difficult question to answer, but based on the broader trend since 2011, my best guess would be...yes...new lows are coming.
I hold to a broader downside target of Gold $1000/900s, with Silver $12/10.. by mid 2015.
