Monday 22 December 2014

Metals falling into year end

With price structure having been a rather large multi-week bear flag, the metals have arguably now decisively broken lower. Gold and Silver saw net daily declines of -1.9% and -2.5% respectively. Outlook is offering a year end close for Gold of $1100/1080.

GLD, daily

SLV, daily


The metals were increasingly weak across the day, and the daily close is arguably pretty important.

Holding to longer term downside targets...

Gold $1000, if not 900/875 by summer 2015.
Silver 12/10