NEW YORK ( TheStreet) -- Leading and momentum indicators suggest a continued bearish outlook for gold and silver this week. In addition, a stronger dollar may weaken bullion prices further. Overall we expect gold to correct to $1,150 an ounce this week.Last week, both gold June futures and silver July futures on the COMEX witnessed a short-term trend reversal, declining 4.21% and 8.19%, respectively.
Gold, Silver: Bearish Outlook This Week
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.