Wednesday 29 October 2014

Metals falling.. with the end of QE

With the Fed announcing the termination of QE3, the USD resumed the climb, and that put extra downward pressure on the metals. Gold and Silver saw net daily declines of -1.4% and -0.8% respectively. Near term offers a crash wave of 10/15% across November.

GLD, daily

SLV, daily


Suffice to say.. the broader trend remains very weak.

Primary target remains Gold $1000.. with Silver in the low teens... if not 12/10 by mid 2015.