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.
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.