Continuing to lean weak

The precious metals of Gold and Silver continue to lean weak, with net weekly declines of -1.3% and -1.4% respectively. Gold is now on the borderline of breaking rising trend, that stretches back to the Dec'2015 low. If broken, it would bode very bearish in the short term, and Silver would follow.


GLD,weekly

SLV, weekly

Summary

Suffice to add... short term bearish.

Mid term is now borderline.. as Gold is looking highly vulnerable to breaking rising trend - which would follow the miners who broke trend in mid August.
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If the Fed do not raise rates at the Sept'21st FOMC - which seems probable, it would be bearish USD, and that would be an upward pressure on the metals.

So... Gold just needs to hold steady from Mon-Wed' afternoon... before there is high threat of renewed upside.