Gold is heading for $1600/oz this year
With equity, energy and commodities hit buy bearish calls from Wall Street firms like GS, we will expect USD to reverse its downtrend. Still, USD index is hovering under 75.
Silver, on the other hand, hold up very well near $40 support even when crude oil shed by 5% from its recent high of $113.
This shows the continuous weakness in USD. Therefore the selling of PMs are done mostly by US traders. The trend of global market moving away from USD is going to push gold and silver to the uncharted level.