A second week of declines

It was another bad week for the precious metals, with Gold and Silver both seeing net weekly declines of -0.7%. The broader outlook remains bearish, with the Nov'2014 lows on track to be broken. With the USD set for a hyper-ramp to the DXY 120s into 2016, the metals look increasingly vulnerable.


GLD, weekly

SLV, weekly

Summary

Suffice to say.. .a second week lower... the Nov'2014 lows are within striking distance.. and once broken.. it is open air to the Gold $1000 threhold.. along with Silver 12/10.

Indirect support for the bearish outlook.. weak Oil (key break <$57).. and Copper prices this past week.