Powerful net weekly gains

With the USD seeing very significant sustained weakness for the majority of the week, the precious metals continued to climb for a third consecutive week. Gold and Silver saw net weekly gains of a distinctly powerful 4.9% and 5.1% respectively.


GLD, weekly

SLV, weekly

Summary

Clearly, very powerful gains... but across the last few years we've seen the same sort of sporadic multi-week up waves.. only to end in breaking a new multi-year low.

Gold bugs are not going to have real clarity for at least another few months, until we see at least a couple of higher highs.. AND higher lows... the broader outlook remains bearish.

--
*clearly, with such powerful gains, the related mining stocks are seeing some clear upside breaks. For the moment though, whilst the broader market looks highly vulnerable to the sp'1600s this spring, I am not chasing the metals/miners higher.