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

Summary

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

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Holding to longer term downside targets...

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