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.
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.