A fifth week of gains

It was another week of gains (if somewhat minor) for the precious metals. Gold and Silver saw net weekly gains of 0.3% and 0.6% respectively. Near term outlook is bullish, and there is increasing chance of Gold testing the big $1500 threshold later this year.. along with Silver $27.


GLD, weekly

SLV, weekly

Summary

Near/mid term upside, but I'm still suspicious that the metals will slip lower next year, possibly taking out the 2013 lows.
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Certainly though, short-metals is NOT the trade right now. Further, Copper prices are looking pretty bullish on the monthly cycle, and it would indeed indirectly suggest Gold has a fair chance of the big $1500 later this year.

It would seem... the Fed is finally starting to get the inflation is has been seeking since the collapse wave of 2008/09.