Net weekly declines

Despite some rather severe turmoil in world equity markets, the precious metals broke new multi-week highs, but were unable to hold the gains. Gold and Silver saw net weekly declines of -2.2% and -4.7% respectively. Mid term outlook remains broadly bearish.


GLD, weekly

SLV,weekly

Summary

Little to add.

Many recognise the importance that despite some serious market upset, Gold - and its more unstable sister metal Silver, were unable to stay net positive for the week.

With the USD set for another multi-month climb.. back above the DXY 100 threshold (and onward to the 120s), the metals look highly vulnerable into 2016.