Metals continue to cool

With the broader US capital market increasingly confident, the precious metals are losing their fear bid, with Gold and Silver seeing net weekly declines of -0.5% and -4.2% respectively. Near term outlook offers further cooling into mid March, but from there.. things will likely resume powerfully higher.


GLD, weekly

SLV, weekly

Summary

Suffice to add, a few weeks of cooling is very natural, having seen a key break above the declining downward trend.

Near term downside in Gold to $1180/70.. equating GLD 113/112.

Broader upside into April/May... Gold $1300, equating to GLD 125
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*I will look to be long gold - via GLD, in mid March... and broadly hold long into early summer.