Net weekly gains

With US equities severely lower, the precious metals caught a fear-bid this week. Gold and Silver saw net weekly gains of 4.1% and 0.8% respectively. Near term outlook remains moderately bullish, but broadly, Gold still looks set for the $1000 threshold.


GLD, weekly

SLV, weekly

Summary

Suffice to add, despite some gains, the broader outlook remains bearish.

USD remains king of FIAT land, and commodities remain under strong deflationary pressures, as the world economy is facing a multitude of increasingly serious problems.