The metals have begun another week with rather significant Monday declines. Gold and Silver settled -1.0% and -1.6% respectively. Near term outlook is for continued weakness, within a much broader down trend. Gold still looks set to test the giant $1000 threshold in 2015.
GLD, daily
SLV, daily
Summary
Little to add.
The recent multi-week bear flags have been provisionally confirmed.. but the metals are yet to break new cycle lows.
Regardless of any further short term chop... the broader trend remains bearish into mid 2015.
