Metals back on the slide

The precious metals are back on the slide, with net weekly declines for Gold and Silver of -2.2% and -2.1% respectively. Near term outlook remains bearish, with the Nov'2014 lows still set to be broken this year.


GLD, weekly

SLV, weekly

Summary

Suffice to say... price action has been broadly choppy since last November.

Many in the infamous gold bug community continue to call a key multi-year floor, but I can't see it. If I am correct about the USD seeing a hyper-ramp to the DXY 120s into 2016, Gold still looks set for the $1000 threshold, along with Silver 12/10.
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For now... I won't be long the metals.. and by default... the related miners.