A second week of declines

The precious metals saw a second consecutive week of declines, with Gold and Silver slipping by -0.2% and -0.6% respectively. Near term outlook is very mixed, so long as the 2013 lows continue to hold.


GLD, weekly

SLV, weekly

Summary

*Friday saw the metals manage some rather strong gains, GLD +1.2%, SLV +1.7%
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Suffice to say, a second week of declines - despite the significant Friday gains.

The recent breakout from the down trend/resistance remains intact, and there is certainly viable upside.. so long as the 2013 lows are not broken below.

Regardless of any near term upside, I remain resigned to Gold/Silver seeing the 2013 lows broken at some point.. before a key multi-year floor is put in.