Friday 10 July 2015

Just another week of declines

Precious metals were lower for the third consecutive week, with Gold and Silver both seeing net weekly declines of around -0.3%. Silver has notably broken below the Nov'2014 low, Gold looks set to follow.

GLD, weekly

SLV, weekly


Little to add.

Despite weakness in the USD, the precious metals are still unable to rally. The broader downward trend from 2011 continues.

Holding to original targets of Gold $1000, with Silver $12/10.