A fifth week lower for Gold

As the US capital markets continue to grow in confidence, the traditional 'safety play' of Gold is seeing reduced interest. Gold and Silver saw net weekly changes of -1.5% and +0.9% respectively. Near/mid term outlook remains outright bearish. The only issue is whether Gold/Silver eventually break the Dec'2015 lows.


GLD, weekly

SLV, weekly

Summary

Suffice to add, this is the worse run in Gold since Nov'2015.. just before Gold floored at $1045.40.

Silver is performing better, and is trading a little closer to Copper, which saw a decisive bullish breakout in November.

The ultimate issue remains... will Gold/Silver break the Dec'2015 lows? For now... its very difficult to say. The one indirect signal that suggest gold/silver will put in a higher low, is copper.