Net weekly gains

After a few weeks of minor chop, the precious metals of Gold and Silver saw net weekly gains of 2.1% and 3.1% respectively. However, one significantly positive week does nothing to negate the broader bearish trend, and new multi-year lows look due in the near term.


GLD, weekly

SLV, weekly

Summary

Little to add.

Regardless of any further moderate upside - which the daily charts argue against anyway, the broader trend remains weak.

Targets remain.. Gold $1000.. if not $900/875.. as USD looks set for DXY 120s in 2016.
Silver 12/10.