A second strong week

The precious metals of Gold and Silver saw significant net weekly gains for a second week, higher by 1.5% and 1.1% respectively. Near term outlook is bullish, not least as the USD appears headed to the DXY 90 threshold.


GLD, weekly

SLV, weekly

Summary

Little to add.

In the grander scheme of things.. the last few weeks are somewhat interesting.. but we remain relatively close to recent multi-year lows.

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For me, key bullish breakout thresholds (via monthly chart) are...

GLD: 125
SLV: 20

If we see a few weekly closes above those levels, then the broader bearish outlook will be dropped.