Whilst the broader US capital markets saw some mixed action, there was continued weakness in commodities. Gold and Silver saw net weekly declines of a significant -2.1% and -4.6% respectively. Near term outlook remains bearish.
GLD, weekly
SLV' weekly
Summary
With the USD continuing to soar on what might not be a multi-month up wave, but a massively important multi-year one... commodities are naturally under downward pressure.
Primary targets remain unchanged...
Gold $1000/900
Silver $12/10
... which if correct, will have grave implications for most mining stocks.. even if the broader equity market continues to rise.