Precious metals smashed across September

The precious metals faced a number of negative pressures across the month, resulting in rather severe declines. Gold and Silver saw net monthly falls of -$72 (-5.6%) and -$2.45 (-12.6%) respectively. The broader trend remains exceptionally bearish into 2015.


Gold, monthly'2

Silver, monthly'2

Summary

There is little to add from the many posts across recent months.
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Metals look set to continue to decline on a multi-year basis into next year.

Key targets remain....

Gold $1000/900s
Silver $12/10.

Precious metals remain weak

It was another pretty poor performance this week for the precious metals. Whilst Gold closed the week broadly flat, Silver saw yet another significant net weekly decline of -1.7%. The broader outlook remains bearish.


GLD, weekly

SLV, weekly

Summary

There is not much to add to posts across the past few weeks.. and indeed months.

The broader trend remains weak. Silver is especially suffering - not least pressured by falling Copper prices. Gold is holding up better to some extent due to its stronger 'fear bid' when the capital markets get moderately upset.

Silver has decisively broken the 2013 lows... Gold looks set to follow.
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*Overall, I am holding to original downside targets... Gold $1000/900s.. with Silver 12/10... probably no later than summer 2015.

If correct, it bodes badly for the mining stocks, most of which would slip another 25/35% or so.

Another dire week for the metals

Whilst the broader US capital markets continued to climb (not least in terms of confidence), there was further weakness in the precious metals. Gold and Silver saw very significant net weekly declines of -1.2% and -3.9% respectively.


GLD, weekly

SLV, weekly

Summary

Suffice to say.... dire.

Silver has taken out the 2013 low (SLV 17.75)... Gold looks set to follow, whether in the current multi-week down cycle.. or the next.
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Broader targets remain the same... and they have grave implications for the mining stocks.
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Always worth seeing... Silverfuturist



One of the few who remains balanced on the precious metals.

Silver breaks the 2013 low

With another QE taper (the seventh), the precious metals failed to hold the early morning gains, and settled somewhat significantly lower. Gold and Silver both saw net daily declines of around -1%. Near term outlook remains very weak.


GLD, daily

SLV, daily

Summary

The daily, weekly, and monthly cycles are ALL bearish.

*SLV fractionally broke the 2013 low of $17.75... by 1 cent  @ $17.74.

So.. Silver has lost the 2013 low.... Gold looks set to follow, whether in the near term.. or a few weeks... it really makes no difference.

Gold looks headed for $1000/900s.. before this down cycle from spring 2011 is complete.

A pretty horrible week for the metals

Whilst the main US capital markets saw only minor weakness, there was significant downside in the precious metals. Gold and Silver saw net weekly declines of -3.0% and -2.8% respectively. Near term outlook offers a small bounce, but the 2013 lows look set to be taken out.


GLD, weekly

SLV, weekly

Summary

It was the worse week for the metals since late May.

With the USD continuing to broadly climb for a third consecutive month, this is putting extra downward pressure on the metals.

There is certainly a chance for a minor 1-3 week bounce.... but the 2013 lows look set to be broken within the very near term.. or no later than November.

*holding to broader downside targets.....

Gold $1000/900s
Silver $12/10
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Some videos....which I think many of the 'crazed' gold bugs should have watched...

First...

Hunter with Organ...


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Finally, a short discussion on 'what makes an expert' by Silverfuturist.



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Have good weekend

Just another down day for the metals

The broader down trend from spring 2011 continues to assert itself. Gold and Silver both saw net daily declines of -0.5%. Near term outlook remains bearish, the 2013 lows are within range, and look set to broken.


GLD, daily

SLV, daily

Summary

Suffice to say, the 2013 lows look set to be broken..whether late this year.. or next.

If this outlook is correct, it has dire implications for the mining stocks, even if the broader equity market continues to rise.

Bad start to the week

The metals opened a touch weak, but with the USD building gains, the metals were pressured strongly lower. Gold and Silver saw net daily declines of -1.1% and -0.8% respectively. Near term outlook remains bearish.


GLD, daily

SLV, daily

Summary

It is unquestionably clear... a higher USD... is a major problem for ALL US asset classes. Most vulnerable remain the metals...Oil/gas, and then equities.
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The 2013 lows look set to be taken out at some point... whether late this year... or next year... it really makes no difference.

*I have zero interest in going long Gold/Silver until the giant $1000 threshold is tested.. which might equate to Silver $12/10.

Metals resume the slide

With the USD on the climb, and geo-political tensions remaining 'relatively' subdued, the precious metals resumed the broader slide. Gold and Silver saw net weekly declines of -1.45% and -1.55% respectively.


GLD, weekly

SLV, weekly

Summary

Little to add from recent posts.
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Both metals remain very close to breaking the 2013 lows, and it seems just a matter of when....not 'if' those lows are broken under.

Primary downside target remains Gold $1000/900s...before a key multi-year floor is put in.

Metals pressured by King dollar

With the USD starting the month on a positive note, the precious metals snapped lower. Gold and Silver both saw net daily declines of a rather significant -1.7%. Outlook is bearish in the immediate..and mid term.


GLD, daily

SLV, daily

Summary

Suffice to say... the stronger USD is only adding to the broader downward trend.
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Primary target remains Gold $1000/900s early next year.