A very bullish June

With capital markets increasingly upset - especially as a result of BREXIT, Gold and Silver rebounded from May weakness, to settle June, higher by $103.10 (8.5%) to $1320.60 and $2.62 (16.4%) to $18.62 respectively. Mid term outlook remains bullish, as Gold looks set for the $1500s... just to begin with.


Gold, monthly

Silver, monthly

Summary

Suffice to add... new multi-year highs for Gold and Silver.

The downward trend from 2011 has clearly concluded. Yes, there will be periodic pull backs, but it would seem we won't be trading <$1K.

That view would only be reassessed with a monthly close <$1200, and frankly.. that looks very unlikely this summer, as the BREXIT result will ricochet across the EU for a very long time.
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*by default... higher precious metal prices will be bullish for the related mining stocks, regardless of whether the main market is on the rise... or imploding.