Rough week for the metals

It was a pretty rough week for the precious metals, with Gold and Silver seeing net weekly declines of a rather significant -1.6% and -3.7% respectively. Mid term outlook remains bearish, however, with the USD set to resume cooling to the DXY 92/90 zone, the metals are set to churn sideways, rather than take out the Nov' 2014 floor.


GLD, weekly

SLV, weekly

Summary

*I exited a GLD-short this Friday morning from 111.70. Will consider a Gold reshort in 3-5 weeks, if DXY 92/90.
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Suffice to add.. rather sig' declines, but it would seem that if the USD starts to cool, the metals will churn sideways/minor bounce for some weeks.

I'm still eventually seeking a washout to the Gold $1000 threshold, along with Silver 12/10