It was a mixed week for the precious metals. Whilst Gold saw a net weekly gain of 1.4%, Silver slipped for a fourth consecutive week, -1.7%. Gold is likely benefiting from a 'fear bid' via the increasing geo-political concerns.
GLD, weekly
SLV, weekly
Summary
What seems clear... if Mr Market starts to feel calmer about the geo-pol issues - not least the Ukraine, then Gold is going to rapidly cool down, along with further declines in Silver
Price structure for both metals is a bull flag, and so long as the 2013 lows are not broken, there remains threat of upside - whilst the broader US capital markets are weak.
*I remain resigned to lower levels across the mid term, with Gold eventually testing the giant $1000 threshold.