Silver remains especially weak

The precious metals saw another week of declines, despite some geo-political concerns into the weekly close. Gold and Silver saw net weekly declines of -0.6% and -2.0% respectively. Near term outlook is bearish.


GLD, weekly

SLV, weekly

Summary

Silver remains notably weak, having seen the fifth consecutive weekly decline. The 2013 lows are not that far away now..and if broken, it would bode for weakness not just in Gold, but in Copper..and the broader US equity/commodity markets.
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*I remain holding to the broader outlook in that Gold will eventually test the giant $1000 threshold.