Net monthly declines for the metals

It was a somewhat bearish month for the precious metals. Gold settled net lower by -$18.70 (1.6%) @ $1115.20, whilst Silver fell -$0.08 (0.6%) @ $14.52. Broader trend remains bearish, with Gold still on track to test the giant $1000 threshold.. along with Silver 12/10.


Gold, monthly2

Silver, monthly2

Summary

Little to add.

Broader trend remains weak.. and Gold still looks set for a test of the giant $1000 threshold.. not least if USD can break above the DXY 100 threshold.

If correct, the related mining stocks will remain weak into 2016.. regardless of whatever upside is seen in the main equity market.

Mixed week for the metals

It was a moderately mixed week for the precious metals, with Gold and Silver seeing net weekly changes of +0.6% and -0.5% respectively. Near term outlook remains broadly bearish, with Gold still on track for the giant $1000 threshold, along with Silver 12/10.


GLD, weekly

SLV, weekly

Summary

Little to add.

Most commodities - metals included, remain very weak, pressured by King Dollar which looks likely to re-take the DXY 100 threshold in late 2015/early 2016.

Significant net weekly gains

The week to week swings continue for the precious metals. Gold and Silver saw rather strong net weekly gains of 2.9% and 3.7% respectively. Near term outlook is bullish, but broadly, price action remains weak, and Gold still looks on track for the giant $1000 threshold.


GLD, weekly

SLV ,weekly

Summary

Little to add.

A strong week for the metals... but then the USD was weak, and there was some distinct upset in the capital markets at the lack of an interest rate hike by the US Fed.

Broadly.. nothing has changed.. the metals.. and their related mining stocks, look set for further downside.

Another week lower for Gold

With US capital markets calming somewhat, the precious metals saw some renewed underlying weakness. Gold and Silver saw net weekly changes of -1.2% and +0.2% respectively. Mid term outlooks remains bearish, with Gold still on track for the giant $1000 threshold.


GLD, weekly

SLV, weekly

Summary

Little to add.

Metals remain broadly weak.. along with most commodities.

USD looks set to break above the big DXY 100 threshold in the coming months, and that will increase the downward pressure on most $ denominated asset classes.

*if the metals outlook is correct, it has very bearish implications for the related mining stocks, no matter how strong the main equity market might be.

Gold back on the slide

Despite further turmoil in the broader capital markets, the precious metals were still struggling, with Gold and Silver seeing net weekly changes of -1.0% and u/c respectively. Broader outlook remains bearish, with Gold set to test the giant $1000 threshold.


GLD, weekly

SLV, weekly

Summary

Little to add.

Some could argue the metals are forming a floor, but then, the same was said when Gold @ $1130... and we now have a lower low of $1071.

The giant $1000 threshold remains a rather obvious target, not least as the USD resumes higher.. above DXY 100.