It was a somewhat mixed and choppy week for Gold and Silver, with net weekly changes of +0.2% and -1.9% respectively. Near term outlook is leaning on the weaker side - as particularly suggested via price momentum in Silver. For now, the mid-term bullish trends remain intact.
GLD, weekly
SLV, weekly
Summary
Suffice to add... Silver is leading the way lower.
Short term bearish... but for now... mid-term remains bullish. Price structure is arguably a giant multi-month bull flag, but it will take new highs to give clarity to that scenario.
