GLD, daily
SLV, daily
Summary
Suffice to say... one sig' daily gain does not break a primary down trend.
The $1000 threshold for Gold still looks due this spring/summer... even if the USD decline to DXY 92/88 zone by late summer.
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Wednesday, 18 March 2015
Metals ramp on USD weakness
With the US Federal Reserve a little closer to raising US interest rates, the USD saw significant weakness. The declines really helped inspire the precious metals, with Gold and Silver settling higher by 2.0% and 3.1% respectively. The broader trend remains bearish though.
GLD, daily
SLV, daily
Summary
Suffice to say... one sig' daily gain does not break a primary down trend.
The $1000 threshold for Gold still looks due this spring/summer... even if the USD decline to DXY 92/88 zone by late summer.
--
GLD, daily
SLV, daily
Summary
Suffice to say... one sig' daily gain does not break a primary down trend.
The $1000 threshold for Gold still looks due this spring/summer... even if the USD decline to DXY 92/88 zone by late summer.
--
Friday, 13 March 2015
Another week lower for the metals
It was just another negative week for the precious metals. Gold and Silver saw net weekly declines of -0.9% and -1.9% respectively. Gold looks set to break the $1130 low... and remains on track for the giant $1000 threshold this late spring/summer... along with Silver in the $12/10 zone.
GLD, weekly'3
SLV, weekly
Summary
Little to add.
Precious metals remain within broadly bearish down trends. The strengthening USD is causing massive problems for most commodities.
Best guess... Gold $1000.... perhaps 900/875 zone by Sept/Oct... along with Silver 12/10.
If correct, that has grave implications for the mining stocks.. with most set to lose a further 25/50%
GLD, weekly'3
SLV, weekly
Summary
Little to add.
Precious metals remain within broadly bearish down trends. The strengthening USD is causing massive problems for most commodities.
Best guess... Gold $1000.... perhaps 900/875 zone by Sept/Oct... along with Silver 12/10.
If correct, that has grave implications for the mining stocks.. with most set to lose a further 25/50%
Friday, 6 March 2015
Fiercely bearish outlook for the metals
The down trend from the January high continues... and is accelerating. Gold and Silver saw net weekly declines of a very significant -3.6% and -4.3% respectively. Near/mid term outlook is exceptionally bearish, and Gold could be close to the giant $1000 threshold within the next month or two.
GLD, weekly'3 - 'best guess' outlook.
SLV, weekly
Summary
Suffice to say.. this net weekly decline was very much expected.. and indeed.. if this is some kind of sub'3 wave.. then it should take Gold close to the $1000 threshold.
There seems ZERO probability that Gold/Silver will be breaking the Jan' high until very late this year... if not spring 2016.
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*as ever... if the metals continue to slide.. it will take the mining stocks with them. The miner ETF of GDX could easily slip to $12/10 zone if Gold manages to go sub $1000 by late summer.
GLD, weekly'3 - 'best guess' outlook.
SLV, weekly
Summary
Suffice to say.. this net weekly decline was very much expected.. and indeed.. if this is some kind of sub'3 wave.. then it should take Gold close to the $1000 threshold.
There seems ZERO probability that Gold/Silver will be breaking the Jan' high until very late this year... if not spring 2016.
--
*as ever... if the metals continue to slide.. it will take the mining stocks with them. The miner ETF of GDX could easily slip to $12/10 zone if Gold manages to go sub $1000 by late summer.
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