Rough start to the week

The precious metals have started another week on a particularly weak note. Gold and Silver opened sharply lower, settling -1.7% and -4.3% respectively. Near term outlook remains bearish... and new multi-year lows look due into the spring.


GLD, daily

SLV, daily

Summary

Little to add.

Whilst the Gold bug community continue to spout lies (not least about Armstrong), and enjoy living in their 'world of delusion'... the broader trend remains weak.

New cycle lows look due...

Primary Gold $1000, secondary $900/875 by late summer.
.. that will probably equate to Silver flooring somewhere in the 12/10 zone... as I've been saying for the last THREE years.
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