Friday 13 November 2015

A fourth week lower

It was another negative week for the precious metals, with Gold and Silver seeing net weekly declines of -0.5% and -3.5% respectively. Near term outlook remains bearish, with Gold set to break the key low of $1072... opening the door to the giant $1000 threshold.

GLD ,weekly

SLV, weekly


Little to add.

Four weeks down... as King Dollar remains ruler in FIAT land. A break above the DXY 100 threshold will only increase the underlying downward pressure on all $ denominated asset classes... particularly Oil, and the precious metals.

If correct, it bodes badly for the related mining stocks into 2016.