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.