Wednesday 30 September 2015

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


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.