A second week lower

The precious metals had another difficult week, with Gold and Silver net lower by -2.4% and -4.9% respectively. Cyclically, near term outlook is for at least a bounce, with the bigger mid term upward trend still comfortably intact.


GLD, weekly

SLV, weekly

Summary

*note how Silver dropped by around twice as much as Gold, which is the typical ratio of movement.
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Suffice to add, the precious metals have continued to struggle as the US capital market has been pricing in a (near certainty) rate hike at the March 15th FOMC.

Cyclically, the metals were due a cooling cycle - having ramped from the Dec'2016 low to mid February.

Rising trend really should hold next week. For GLD that will be around 109, and for SLV - 15.25. Unless those levels are broken, those holding to a more inflationary outlook have little to be concerned about.
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For those with an interest in the precious metals, and the related Gold Mining stocks...

For details: http://permabeardoomster.blogspot.com/p/research-reports.html