Precious metals cooling

With US/world capital markets seeing renewed confidence, the precious metals lost some of their fear-bid, and have started to retrace. Gold and Silver saw net weekly declines of -0.7% and -2.4% respectively. Near term outlook offers further cooling for a few weeks, before viable hyper upside across the spring.


GLD, weekly2

SLV, weekly

Summary

Suffice to add, having climbed for four consecutive weeks, a week or two of cooling is to be considered rather natural.

Regardless of any further near term cooling, Gold looks set for the $1300 threshold this spring. Whether that is just another tease to the gold bugs... difficult to say, although the mid-term bearish trend has unquestionably been broken.