A third week of gains

With US/world capital markets increasingly rattled, the precious metals of Gold and Silver saw net weekly gains of 1.8% and 0.7% respectively. Near/mid term outlook is very bullish, with Gold set for the $1400/1500s this summer/early autumn.


GLD, weekly

SLV, weekly

Summary

Suffice to add... a third week of gains.. with Gold breaking back above the $1300 threshold.

Mid term outlook is very bullish... as the precious metals are broadly trading inverse to equities.

A second week of strong gains

With some increasing concern about the next FOMC and the looming BREXIT vote, the precious metals continued to receive some bullish attention. Gold and Silver saw net weekly gains of 2.4% and 5.6% respectively. Near/mid term outlook is bullish, as Gold/Silver - and the related miners, are broadly trading inverse to equities.


GLD, weekly

SLV, weekly

Summary

Little to add.

We have a pretty secure short term floor for Gold and Silver, with a notably higher low from the Dec'2015 low.

If equities.. and the US/world capital markets see increased upset this summer, Gold/Silver - and the related mining stocks, are set to explode higher.

Things are just starting to get interesting.

The metals find support

After a month of cooling, the precious metals have found (at least for the short term) a floor, with Gold and Silver seeing significant net weekly gains of 2.8% and 1.4% respectively. Now its a case of whether its just a spurious week of gains... or the start of hyper upside across the summer/autumn.


GLD, weekly

SLV, weekly

Summary

Suffice to add... the dramatic Friday decline in the USD (-1.6% in the DXY 93.90s) was a core reason for the big turn around in the metals.

With lousy jobs data, the USD fell on reduced expectations of a June/July rate hike. By default... a weaker USD results in higher Gold/Silver prices.

Broadly, the metals are holding a very notable breakout since the Dec'2015 lows.