Whipsawing higher on the BREXIT

The precious metals were broadly weak for the first days of the week. Yet.. the BREXIT resulted in Gold and Silver exploding to the upside, seeing net weekly gains of 1.6% and 1.7% respectively. Near term outlook threatens the $1350/1400 zone, with the $1500s viable in July.


GLD, weekly

SLV, weekly

Summary

*for the record, I am chasing Gold higher from the GLD 125s.. as the 130s seem an easy short term target - as it was trading overnight Friday.
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Broadly... there little to add from recent posts.

The precious metals are trading inverse equities... and with a massive BREXIT reversal... the metals look decisively set for much higher levels.

If correct, the related mining stocks will similarly continue to broadly climb across the summer.