Powerful net weekly gains

The precious metals saw renewed upside, with Gold and Silver attaining powerful net weekly gains of 3.0% and 5.3% respectively. Short term continues to threaten a retrace, but broadly, the outlook is increasingly bullish, not least if the US/world capital markets are upset this spring.


GLD, weekly

SLV, weekly

Summary

*it is notable that Silver has not yet broken the high of 3 weeks ago.

Gold is really capturing mainstream attention as the broader downward trend has likely concluded.
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Near term - into the FOMC of March 16th, there remains threat of a retrace to around $1200/1180, but broadly, the $1300 threshold is now an easy target.

If you believe - as I do, that US/world capital markets will see renewed upside this spring, and probably across the summer/early autumn, then Gold @ $1500 is now a viable target.
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**If correct, the related Gold/Silver mining stocks will likely double up from current levels, with GDX in the 35/45 zone.