Strong week for Gold and Silver

Whilst the main market saw increasing weakness, there was some very notable strength in the precious metals. Gold and Silver saw net weekly gains of 3.1% and 2.7% respectively. Near term outlook is bullish, and there is now threat of a continued ramp to $1500 Gold and Silver $25/26


GLD, weekly

SLV, weekly

Summary

Silver remains notably weaker than Gold, but then, this is to be expected, as it is more industrial in nature, and benefits less in terms of a 'fear trade'. Considering the break <$3 in Copper, the gains in the metals are probably more stronger than the weekly gains would at first suggest.
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Regardless, Gold and Silver are indeed climbing in the near term, and look set for further gains, especially if geo-political concerns increase this spring.
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*however, let me be clear,  barring a few monthly closes >$1500 Gold, I'd still expect a marginally lower low in 2015..perhaps down to the Gold $1050/950 zone.